At this time last year, there were two universal truths in residential real estate across the country. Whether or not sales were up in year-over-year comparisons, the market was assuredly active, and, thus, overall inventory was trending downward compared to the year before. That remained the case for the entirety of 2017, and that refrain sounds entirely familiar for the duration of 2018.
In the Twin Cities region, for the week ending June 2:
• New Listings decreased 3.0% to 1,946
• Pending Sales decreased 1.5% to 1,407
• Inventory decreased 17.6% to 10,530
For the month of April:
• Median Sales Price increased 8.9% to $266,750
• Days on Market decreased 10.2% to 53
• Percent of Original List Price Received increased 0.8% to 99.9%
• Months Supply of Homes For Sale decreased 20.8% to 1.9
