Early 2014 data is telling us that the trend is still one of improvement, albeit not at the speedy pace we’d prefer. Spring hasn’t arrived yet and we’ll have to weather a few more months of unpredictable weather before the of May markets return.
In the Twin Cities region, for the week ending February 22:
• New Listings decreased 10.5% to 1,051
• Pending Sales decreased 17.5% to 726
• Inventory decreased 8.9% to 12,089
For the month of January:
• Median Sales Price increased 11.6% to $178,500
• Days on Market decreased 12.3% to 93
• Percent of Original List Price Received remained flat at 93.5
• Months Supply of Inventory decreased 12.5% to 2.8
