Fall brings good news for those looking to purchase a home, with realtor.com reporting the best time to buy a home is now, according to their Best Time to Buy Report, which analyzed listing data back to 2018. Based on the data, analysts found that the period between Sept. 12 and Oct. 17 will offer the most favorable home buying conditions to prospective buyers, as the majority of U.S. markets are predicted to see more homes for sale, less competition, and increased days on market than at any other time this year.
In the Twin Cities region, for the week ending September 11:
• New Listings decreased 9.0% to 1,680
• Pending Sales decreased 19.5% to 1,141
• Inventory decreased 16.9% to 7,971
For the month of July:
• Median Sales Price increased 11.1% to $350,000
• Days on Market decreased 43.6% to 22
• Percent of Original List Price Received increased 2.1% to 102.4%
• Months Supply of Homes For Sale decreased 26.3% to 1.4