For Week Ending May 18, 2019
There is a stillness in the air during this spring’s housing market, and not the foreboding kind that precedes a scary moment in a horror film or a major weather event, but rather a sameness to the springs of the last few years. Prices are still edging upwards and providing affordability challenges for many buyers. The number of new listings and homes for sale are still not quite enough – though improving – to meet current demand. And competition for desirable homes is still fierce.
In the Twin Cities region, for the week ending May 18:
• New Listings decreased 5.9% to 2,147
• Pending Sales decreased 5.8% to 1,395
• Inventory increased 1.0% to 10,553
For the month of April:
• Median Sales Price increased 5.2% to $281,000
• Days on Market increased 5.7% to 56
• Percent of Original List Price Received decreased 0.5% to 99.4%
• Months Supply of Homes For Sale increased 5.0% to 2.1