For Week Ending April 6, 2019

New listings finally started to perk up across the nation last week, effectively launching residential real estate into the springtime selling season. Much has been said and written about the slow launch of new homes for sale in what was anticipated to be a year of rising inventory. Mother Nature has had different plans so far in several markets, adding another burst of winter weather in April that may spoil an otherwise promising start to the second quarter of 2019.

In the Twin Cities region, for the week ending April 6:

  • New Listings decreased 3.4% to 1,883
  • Pending Sales decreased 6.1% to 1,208
  • Inventory decreased 2.2% to 8,797

For the month of March:

  • Median Sales Price increased 6.5% to $275,000
  • Days on Market increased 15.8% to 66
  • Percent of Original List Price Received decreased 0.5% to 98.6%
  • Months Supply of Homes For Sale remained flat at 1.8

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

 
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