As we get closer to the official calendar launch of summer, residential real estate is taking off. The market may seem slower than in past spring/summer sprints, but numbers are by no means dismal. Whether the buyer category is dominated by Millennial, Generation X or move-up buyers from previous generations is no matter; activity is happening.
In the Twin Cities region, for the week ending May 30:
• New Listings decreased 2.9% to 1,696
• Pending Sales increased 23.5% to 1,357
• Inventory decreased 4.6% to 16,202
For the month of May:
• Median Sales Price increased 6.7% to $224,000
• 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 12.2% to 3.6
