For Week Ending February 18, 2017

In much of the country, both new and existing home sales increased in January. At the same time, prices continue to rise in year-over-year comparisons, and the number of homes available for sale remains quite low. The low inventory situation and affordability crunch is particularly hard on first-time buyers, leaving some properties available for landlord buyers with more available funds for investment.

In the Twin Cities region, for the week ending February 18:

  • New Listings decreased 6.5% to 1,334
  • Pending Sales increased 11.1% to 989
  • Inventory decreased 23.8% to 8,751

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.