The housing market continues to assert itself, often changing the hearts and minds of housing bears, skeptical politicians, curmudgeonly economists and buyers and sellers alike. Over the past six to eighteen months, we’ve seen real estate stabilize, turn around and even start to recover. But it can sometimes feel like a moving target. With diminished inventory levels, cheap finance options, strong sales and rising prices, the prudent market participant will remain vigilant in monitoring his or her local real estate activity. That should be an easy task; start by simply turning the page!
In the Twin Cities region, for the week ending March 30:
- New Listings decreased 12.1% to 1,349
- Pending Sales increased 12.0% to 1,210
- Inventory decreased 29.6% to 12,909
For the month of March:
- Median Sales Price increased 17.4% to $176,000
- Days on Market decreased 24.3% to 109
- Percent of Original List Price Received increased 3.1% to 95.0%
- Months Supply of Inventory decreased 40.0% to 3.0
Click here for the full Weekly Market Activity Report.From The Skinny.