For Week Ending January 6, 2018

As we embark upon the 2018 campaign, watch for upward movement in some of the same areas for wanted improvements in 2017. The number of homes available for sale continues to be a key factor in the dynamics of residential real estate. Simply put, it would be good to have more inventory available for purchase. Buying a home is a viable and exciting option for many consumers, and having more homes to choose from is one way to assure that the dream of homeownership is an affordable achievement.

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

• New Listings decreased 13.4% to 850
• Pending Sales decreased 10.7% to 534
• Inventory decreased 26.7% to 6,904

For the month of December:

• Median Sales Price increased 9.8% to $248,200
• Days on Market decreased 15.3% to 61
• Percent of Original List Price Received increased 1.3% to 97.1%
• Months Supply of Inventory decreased 26.3% to 1.4

All comparisons are to 2017

Click here for the full Weekly Market Activity Report. From The Skinny Blog.