Positive news about the housing market has permeated the headlines for several months now, and it’s not just a case of less supply and more demand. It’s also a function of product mix. When there is a transition from a 50 percent foreclosure market to a 25 percent foreclosure market, prices inevitably rise because there are fewer low-priced homes in the sales mix. Of course, this is not the case in all submarkets, so here’s what else is happening around town.

In the Twin Cities region, for the week ending April 13:

• New Listings decreased 2.0% to 1,605
• Pending Sales increased 6.1% to 1,186
• Inventory decreased 28.7% to 13,145

For the month of March:

• Median Sales Price increased 17.8% to $176,650
• Days on Market decreased 24.3% to 109
• Percent of Original List Price Received increased 3.1% to 95.0%
• Months Supply of Inventory decreased 38.0% to 3.1

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Market Activity for April 22nd 2013

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