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Twin Cities Market Update – May 27, 2014

Wednesday, June 4, 2014   /   by Cristina Edelstein

Twin Cities Market Update – May 27, 2014

Twin Cities Market Update – May 27, 2014

 

Higher prices gave sellers reason for optimism in early 2014. As prices stabilize, some are sensing the formation of a counter-trend. However, price alone does not determine the state of the housing market. Number of sales by housing segment, the types of households being formed and the availability of well-paying jobs all play important roles to housing health. As the summer months approach, things like inventory of homes for sale, new listings and number of days on market until sale, along with pricing, will help predict the direction of the housing market.

 

In the Twin Cities region, for the week ending May 17:
• New Listings increased 10.0% to 2,039
• Pending Sales decreased 8.3% to 1,175
• Inventory increased 4.1% to 15,432

 

 

For the month of April:
• Median Sales Price increased 7.5% to $196,129
• Days on Market decreased 8.2% to 89
• Percent of Original List Price Received decreased 0.1% to 95.9%
• Months Supply of Inventory increased 2.9% to 3.5

 

 

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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