There’s no dainty tiptoeing through the tulips this spring, as market flower fields are blooming with speculation. Sales and new listings are up, and hope for a fluorescent spring market is flourishing. An increase in inventory is the desire at this point in the season, as more properties for sale should nudge first-time home buyers to sow their fledgling seeds in the housing market and encourage move-up buyers to say goodbye to familiar flower beds in favor of an upsized plot across town.
In the Twin Cities region, for the week ending April 12:
- New Listings increased 19.9% to 1,925
- Pending Sales increased 1.8% to 1,157
- Inventory decreased 2.4% to 13,736
For the month of March:
- Median Sales Price increased 7.6% to $190,000
- Days on Market decreased 11.1% to 96
- 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.