Author Archives: Pat Delaney

There have already been a few items to watch in the burgeoning spring market, particularly around price, sales and inventory. Median sales prices are on the rise while sales have been a wee bit stubborn emerging from winter hibernation. Meanwhile, more choices are still needed for eager buyers. There’s still plenty of time for the market to catch fire, and there’s no reason to believe that it won’t.

In the Twin Cities region, for the week ending April 26:

• New Listings increased 25.6% to 1,906
• Pending Sales decreased 2.4% to 1,212
• Inventory increased 0.5% to 14,318

For the month of March:

• Median Sales Price increased 7.6% to $189,950
• Days on Market decreased 12.0% to 95
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 3.0% to 3.2

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.

Science fairs, book swaps and spring sports have kept winter-weary minds off of what superficially appears to be a mixed beginning to what is typically a cheery second quarter. Most economists, however, believe that the coalescence of market normalization, an improving sales mix and good housing starts are all working behind the scenes to alleviate the growing pains of a market in recovery. Housing is already starting to see signs of upward price pressure, rising consumer confidence and some inventory relief.

In the Twin Cities region, for the week ending April 19:

• New Listings decreased 2.8% to 1,571
• Pending Sales decreased 5.3% to 1,227
• Inventory decreased 0.5% to 14,148

For the month of March:

• Median Sales Price increased 7.6% to $189,950
• Days on Market decreased 12.0% to 95
• Percent of Original List Price Received remained flat at 95.0
• Months Supply of Inventory decreased 6.1% to 3.1

All comparisons are to 2013

Click here for the full Weekly Market Activity Report. From The Skinny.