For Week Ending May 11, 2019
There is no such thing as a national real estate market. When the median sales price of homes for sale in San Francisco ($1.6 million) are compared to the median annual household income in Youngstown, Ohio ($26,295), it is especially evident. National news outlets will report on housing stories as though one size fits all, but this is particularly untrue in 2019 – not only in terms of home pricing compared to income, but with trends in new listings and pending sales.
In the Twin Cities region, for the week ending May 11:
- New Listings decreased 1.7% to 2,044
- Pending Sales decreased .1% to 1,531
- Inventory increased 1.5% to 10,245
For the month of April:
- Median Sales Price increased 5.2% to $281,000
- Days on Market increased 5.7% to 56
- Percent of Original List Price Received decreased 0.5% to 99.4%
- Months Supply of Homes For Sale increased 5.0% to 2.1
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.