For Week Ending February 6, 2016
The typical winter humdrum has hit the U.S. real estate market, with the same trends from late January continuing into February. Fewer home choices means less competition for sellers, and buyers are still in the housing game with federal rate hikes not anticipated to deter home buying in 2016, as mortgage rates are expected to stay low.
In the Twin Cities region, for the week ending February 6:
- New Listings decreased 17.6% to 1,235
- Pending Sales increased 3.4% to 890
- Inventory decreased 21.0% to 10,257
For the month of January:
- Median Sales Price increased 10.3% to $215,000
- Days on Market decreased 15.8% to 85
- Percent of Original List Price Received increased 1.5% to 95.0%
- Months Supply of Inventory decreased 32.3% to 2.1
All comparisons are to 2015
Click here for the full Weekly Market Activity Report. From The Skinny Blog.