For Week Ending February 4, 2017

According to a recent Gallup poll, it is the first time in more than 15 years that a majority of Americans are optimistic about finding a quality job. This is great news for the entry-level housing market, as job growth and improved wages fuel demand for home purchases. Rents have also been on the rise, another factor that has put the entry-level market in strong demand.

In the Twin Cities region, for the week ending February 4:

  • New Listings increased 3.3% to 1,282
  • Pending Sales remained flat at 882
  • Inventory decreased 24.0% to 8,399

For the month of January:

  • Median Sales Price increased 4.7% to $225,000
  • Days on Market decreased 7.1% to 79
  • Percent of Original List Price Received increased 0.9% to 95.9%
  • Months Supply of Inventory decreased 26.1% to 1.7

All comparisons are to 2016

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