The Minneapolis Area Association of Realtors has released the market statistics for the Twin Cities for the week ending June 1, 2013 and for May 2013.
In the Twin Cities region, for the week ending June 1:
• New Listings increased 23.6% to 1,713
• Pending Sales increased 22.8% to 1,180
• Inventory decreased 23.1% to 14,349
For the month of May:
• Median Sales Price increased 15.1% to $194,450
• Days on Market decreased 29.8% to 87
• Percent of Original List Price Received increased 2.5% to 97.0%
• Months Supply of Inventory decreased 30.6% to 3.4
Home inventory is way down and buyers are out in full force. Due to the lack of inventory the buyers don’t have many homes coming up in their searches to actually go out and look at. Since there is less to choose from they are looking at fewer homes and then making their decision to buy. Just a year ago, buyers had a seemingly endless supply of homes that fit their search criteria but now they are lucky if a few come up. They are not waiting for something better to come along as homes are selling fast and if you don’t act quickly, meaning within a few days, they are often gone/sold.
The numbers are out from the Minneapolis Association Area Association of Realtors for the week ending May 4, 2013.
In the Twin Cities region, for the week ending May 4:
• New Listings increased 10.7% to 1,825
• Pending Sales increased 17.2% to 1,404
• Inventory decreased 28.0% to 13,361
For the month of April:
• Median Sales Price increased 12.0% to $182,000
• Days on Market decreased 28.1% to 97
• Percent of Original List Price Received increased 2.7% to 95.9%
• Months Supply of Inventory decreased 38.0% to 3.1
The Minneapolis Area Association of Realtors has released the latest market statistics for the week ending April 27, 2013. The housing market is becoming increasingly competitive with the low inventory and rising sales!
In the Twin Cities region, for the week ending April 27:
• New Listings increased 2.9% to 1,519
• Pending Sales increased 17.3% to 1,308
• Inventory decreased 28.8% to 13,291