Most housing markets across the country are continuing to chug along….

Most housing markets across the country are continuing to chug along toward recovery as the local market begins its first buds into spring mode. New listings and overall inventory have become the prominent indicators to watch, as demand for quality homes to buy is up. Agents in some areas are seeing the highest prices and fastest selling times in years. Where it used to take months, it can now take mere days to sell an appealing home. Here’s a quick recap of the week that was.

In the Twin Cities region, for the week ending March 16:

• New Listings increased 4.9% to 1,475
• Pending Sales increased 11.9% to 1,094
• Inventory decreased 30.1% to 12,661

For the month of February:

• Median Sales Price increased 15.5% to $160,000
• Days on Market decreased 22.2% to 112
• Percent of Original List Price Received increased 3.4% to 93.7%
• Months Supply of Inventory decreased 38.8% to 3.0
The Weekly Market Activity Report is produced by the Minneapolis Area Association of REALTORS® (MAAR) for REALTOR® members and interested parties on a weekly basis. Use it to further your understanding of the Twin Cities 13-county residential real estate marketplace.

Good luck and happy home selling!

Matthew Johnson

www.mattjrealtor.com

The Johnson Real Estate Group serves Woodbury, Oakdale, Cottage Grove, and the entire Twin Cities Area including Western Wisconsin! We are dedicated to providing a superior experience when buying or selling your Twin Cities home! Contact us at www.mattjrealtor.com to find out more.

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