For Week Ending October 10, 2015
Supply and demand drive housing prices, and this basic economic tenet has been in the spotlight recently, as inventory remains low across the country while prices continue to edge up in many locales. Cash investment has gobbled up supply in some regions, while a lack of new construction has hit the supply side in others. The truth remains that there is still healthy demand in most corners. Every market and situation is unique, so let’s track the listings and sales for the week in your area.
In the Twin Cities region, for the week ending October 10:
- New Listings increased 2.5% to 1,453
- Pending Sales increased 13.0% to 1,053
- Inventory decreased 14.7% to 16,048
For the month of September:
- Median Sales Price increased 8.3% to $222,000
- Days on Market decreased 8.5% to 65
- Percent of Original List Price Received increased 1.0% to 96.6%
- Months Supply of Inventory decreased 26.1% to 3.4
All comparisons are to 2014
Click here for the full Weekly Market Activity Report. From The Skinny Blog.