The U.S. median listing price rose 12.9% year-over-year to a new high of $392,000 in February, exceeding the previous peak set in July 2021, according to Realtor.com’s Monthly Housing Trends Report. Despite rising sales prices, homes are disappearing in record time, with the typical U.S. home selling more than two weeks faster last month compared to the same period last year, and more than a month faster compared to February 2017 – 2019.

In the Twin Cities region, for the week ending March 5:

• New Listings decreased 5.8% to 1,417
• Pending Sales decreased 3.8% to 1,128
• Inventory decreased 16.3% to 4,505

For the month of January:

• Median Sales Price increased 10.6% to $333,000
• Days on Market decreased 2.4% to 41
• Percent of Original List Price Received increased 0.1% to 99.6%
• Months Supply of Homes For Sale decreased 20.0% to 0.8

FULL REPORT