Is it here? Weekly Market Report | David Reed Weekly Market Report – David Reed

For Week Ending February 18, 2017

In much of the country, both new and existing home sales increased in January. At the same time, prices continue to rise in year-over-year comparisons, and the number of homes available for sale remains quite low. The low inventory situation and affordability crunch is particularly hard on first-time buyers, leaving some properties available for landlord buyers with more available funds for investment.

In the Twin Cities region, for the week ending February 18:

  • New Listings decreased 6.5% to 1,334
  • Pending Sales increased 11.1% to 989
  • Inventory decreased 23.8% to 8,751

For the month of January:

  • Median Sales Price increased 4.7% to $225,000
  • Days on Market decreased 7.1% to 79
  • Percent of Original List Price Received increased 0.9% to 95.9%
  • Months Supply of Inventory decreased 26.1% to 1.7

All comparisons are to 2016

Click here for the full Weekly Market Activity Report. From The Skinny Blog.