In terms of relative balance between buyer and seller interests, residential real estate markets across the country continue to perform well on a stage that includes actors such as heightened consumer confidence, wage increases, low unemployment and an economic expansion that is on the verge of being the longest in U.S. history. Well-known players such as increased sales prices and low inventory have recently been joined by fewer new listings in several markets.
In the Twin Cities region, for the week ending June 8:
- New Listings increased 4.1% to 2,187
- Pending Sales decreased 2.0% to 1,467
- Inventory decreased 0.6% to 11,237
For the month of May:
- Median Sales Price increased 5.2% to $285,000
- Days on Market decreased 4.3% to 45
- Percent of Original List Price Received decreased 0.2% to 100.0%
- Months Supply of Homes For Sale increased 4.3% to 2.4
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.