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Twin Cities Market Update – May 20, 2014

Tuesday, June 3, 2014   /   by Cristina Edelstein

Twin Cities Market Update – May 20, 2014

Twin Cities Market Update – May 20, 2014

 

April showers bring the May flowers and that is a rising inventory high even as mortgage rates stay persistently low, which helps boost affordability regardless of rising prices. More mortgage applications means more first-time buyers dipping into homeownership. Lower unemployment levels will also help direct buyers toward the rosy scent of a new home.

 

In the Twin Cities region, for the week ending May 10:
• New Listings increased 6.5% to 1,979
• Pending Sales increased 0.1% to 1,264
• Inventory increased 3.5% to 15,009

 

 

For the month of April:
• Median Sales Price increased 7.6% to $196,425
• Days on Market decreased 8.2% to 89
• Percent of Original List Price Received decreased 0.1% to 95.9%
• Months Supply of Inventory remained flat at 3.4

 

 

by 

RE/MAX Results
Kerby Skurat
1143 South Shore Dr.
Plymouth, MN 55441
612-444-1110

The data relating to real estate for sale on this web site comes in part from the Broker ReciprocitySM Program of the Regional Multiple Listing Service of Minnesota, Inc. Real Estate listings held by brokerage firms other than Kerby Skurat - Re/Max Results / WINBACK are marked with the Broker ReciprocitySM logo or the Broker ReciprocitySM thumbnail logo (a little black house) and detailed information about them includes the name of the listing brokers.” Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items.” Copyright2021Regional Multiple Listing Service of Minnesota, Inc. All rights reserved. Data last updated October 16, 2021
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