Housing inventory continues to improve nationwide, climbing 14.8% year-over-year according to Realtor®.com’s February 2024 Monthly Housing Market Trends Report. New listings increased 11.3% year-over-year, while the total number of unsold homes rose 8.8% compared to the same period last year. Of particular note was the rise in inventory of homes in the $200,000 to $350,000 price range, which grew 20.6% annually, outpacing all other price categories.
In the Twin Cities region, for the week ending March 23:
• New Listings increased 8.8% to 1,170
• Pending Sales increased 11.3% to 939
• Inventory increased 13.3% to 7,067
For the month of February:
• Median Sales Price increased 4.6% to $358,000
• Days on Market decreased 3.3% to 59
• Percent of Original List Price Received increased 0.3% to 97.5%
• Months Supply of Homes For Sale increased 28.6% to 1.8