The trends from the last several weeks and, honestly, the last several months remain in place in much of the country as well as locally. The market is trying to sustain a healthy number of listings to keep pace with a consumer base that is clearly in a buying mood. There is real evidence of increased showing activity and anecdotal evidence from busy real estate professionals that we are setting up for another busy year in residential real estate.
In the Twin Cities region, for the week ending February 17:
• New Listings decreased 6.1% to 1,277
• Pending Sales decreased 14.9% to 887
• Inventory decreased 23.8% to 7,420
For the month of January:
• Median Sales Price increased 9.4% to $243,500
• Days on Market decreased 13.8% to 69
• Percent of Original List Price Received increased 1.0% to 96.