Interest rates do not seem to be going up anytime soon, but some have an inkling that they will ascend during the dog days of summer or as the leaves fall. For the time being, sellers are selling and buyers are buying within the existing framework, and it is a glorious time for consumers and agents alike. With a general nationwide increase in both new listings and closed sales, markets across the country have seen upward mobility with housing. Now let’s see if the local market is following the prevailing national trends.

In the Twin Cities region, for the week ending June 20:
• New Listings increased 7.5% to 2,051
• Pending Sales increased 13.9% to 1,366
• Inventory decreased 7.3% to 16,732

For the month of May:
• Median Sales Price increased 6.5% to $223,755
• Days on Market decreased 5.0% to 76
• Percent of Original List Price Received increased 0.7% to 97.5%
• Months Supply of Inventory decreased 9.8% to 3.7

Call Now ButtonCall Now