Twin Cities Home Prices Reach an ALL TIME HIGH!!!
The record for the Median Sales Price in the Twin Cities was previously $238,000. Ten years later, this record is no longer. June 2016 set a new median sales price record at $242,000.
Low inventory has helped to drive up the prices on homes. With not as many homes to pick from, sellers are selling at 98.7% of list price and in less time! The average days on market is now 55 days. Homes haven't sold this quickly since 2007! Traditional Sellers...Get the Skinny on Real Estate Trends in Your Area!
June 2016
The Statistics for May have been crunched and analyzed by the Minneapolis Association of Realtors. There are no real surprises...
May 2016 as compared to May 2015 showed the following:
1) Closed sales were up 5.3%
2) Pending sales were up 9.9%
3) The # of Homes for Sale were down 20.6% ~ leaving a 2.7 month supply of homes on the market. (A healthy buyer/seller market has a 5-6 months supply of homes for sale.)
4) Sellers are n...Get the Skinny on Real Estate Trends in Your Area! April 2016
The common theme being spoken in Real Estate right now is LACK of HOMES for SALE!!! The statistics for March have been gathered and should not be a surprise to those that have been following the Real Estate Trends in the Twin Cities!
From March 2015 to March 2016...
The # of homes for sale is down 20.6%!!!
The month supply of homes for sale is 2.5
The prices are UP 5.7% with a median sales price of $222,000
Mortgage Rates...Get the Skinny on Real Estate Trends in Your Area! September 2015
Fall is here and the real estate market continues to move quickly!
Both Closed Sales and Pending Sales rose in August 2015! (7.8% and 12.1% respectively).
Prices rose moderately at 2.7%
Seller's received 97.1% of list price~ This is also up from the August 2014!
Prices rising and seller's receiving closer to list price for their homes may be due to there being less homes on the market. The number of homes for sale fell 13...
