With the first days of February under our belts, it’s safe to say that housing has managed to weather the heart of winter with little issue. Although 2014 activity may appear sluggish compared to gangbuster 2013, housing has stabilized and should continue to find moderate footing. Look for some signs of inventory and sales activity thawing, but keep your jacket handy as activity always varies by location and segment.
In the Twin Cities region, for the week ending February 8:
- New Listings decreased 3.0% to 1,193
- Pending Sales decreased 8.8% to 794
- Inventory decreased 10.2% to 11,809
For the month of January:
- Median Sales Price increased 12.4% to $179,850
- Days on Market decreased 12.3% to 93
- Percent of Original List Price Received remained flat at 93.5
- Months Supply of Inventory decreased 15.6% to 2.7
All comparisons are to 2013
Click here for the full Weekly Market Activity Report.From The Skinny.