The 13 county Twin City Metro area experienced an increase pending home sales while a decrease in overall inventory by 5.5%. And according the Minneapolis Area Association of Realtors the median home price increased 6.8%. As we get into 2019 typically the Twin City housing market will see a decrease in new listings while the buyers tend to experience less competition during their home search.
Here’s some housing data provided by the Minneapolis Area Association of Realtors as we’re getting into our mid spring housing market. Month supply of homes increased to 1.9% putting a little more balance into the overall market.
As we’re starting to see some rebalancing within the housing market for some areas both locally and nationally here’s a breakdown helping define each market environment. If you have any questions regarding the market stats and interested in getting a free home valuation click on the “What’s My Home Worth” on my home page.
For the first time since April 2015 there were more homes listed for sale in the Twin Cities metro than the same month the year prior. Here’s the recent housing news release for December 2018 from the Minneapolis Area Association of Realtors.
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Here’s a recent housing release from the Minneapolis Area Association of Realtors confirming the continued pattern of less inventory and the competitive market for home buyers in certain price ranges.
Even though this “spring” housing market in the Twin Cities experienced a winter wonderland, the housing market continues to stay warm. The imbalance between inventory and buyers still continues as we get into Mid April so overall home sales are down due to the lack of inventory but home prices continue to climb. Here’s a recent news release from the Minneapolis Area Association of Realtors. If you have any further questions regarding the housing stats and/or housing forecasts feel free to email, text or call anytime.
Once spring actually arrives here are some helpful spring cleaning tips.
Here’s a recent post from the Minneapolis Area Association of Realtors discussing the momentum of the housing market and the Twin City Home values.