The number of homes available for sale continues to increase nationwide, with active listings up 65.5% compared to January 2022, according to Realtor®.com’s most recent Monthly Housing Report. Buyers have 248,000 more homes to choose from compared to the same time last year, although the number of homes for sale is still 43.2% lower than it was in 2017 – 2019, prior to the pandemic. Nationally, homes are also spending more time on market compared to last year, giving prospective buyers greater opportunities to make their home purchase goals a reality. In the
Twin Cities region, for the week ending February 18:
•New Listings decreased 18.0% to 914
•Pending Sales decreased 23.1% to 698
•Inventory increased 13.9% to 5,667
For the month of January:
•Median Sales Price increased 2.7% to $342,000
•Days on Market increased 46.3% to 60
•Percent of Original List Price Received decreased 3.6% to 96.0%
•Months Supply of Homes For Sale increased 44.4% to 1.3