Early March continues the 2016 trend of slow and steady home price increases across most of the country. Conversely, interest rates have remained low, keeping inventory and home sales balanced and the market healthy.
In the Twin Cities region, for the week ending March 5:
• New Listings increased 2.5% to 1,959
• Pending Sales increased 6.8% to 1,155
• Inventory decreased 18.7% to 11,145
For the month of February:
• Median Sales Price increased 3.8% to $207,500
• Days on Market decreased 9.4% to 96
• Percent of Original List Price Received increased 1.1% to 95.2%
• Months Supply of Homes For Sale decreased 28.1% to 2.3
