More daylight should help bring more hours of long-desired activity to the housing market. As the spring market dawns, sellers may see prices continue to rise and more homes should find their way to market. As long as the economy continues to gain momentum and mortgages remain low, previously underwater sellers and eager buyers should find opportunities to talk business.
In the Twin Cities region, for the week ending March 8:
- New Listings increased 6.5% to 1,454
- Pending Sales decreased 14.7% to 821
- Inventory decreased 9.4% to 12,118
For the month of February:
- Median Sales Price increased 14.4% to $183,000
- Days on Market decreased 10.8% to 99
- Percent of Original List Price Received decreased 0.2% to 93.6%
- Months Supply of Inventory decreased 12.5% to 2.8
All comparisons are to 2013
Click here for the full Weekly Market Activity Report. From The Skinny.