Early 2014 data is telling us that the trend is still one of improvement, albeit not at the speedy pace we’d prefer. Spring hasn’t arrived yet and we’ll have to weather a few more months of unpredictable weather before the sing-song tempo of May markets return. Although we await warmer days ahead, there’s no need to wait to gear up for a headier market. Remaining on top of weekly trends and using data to bolster marketing efforts makes for a winner dinner.
In the Twin Cities region, for the week ending February 22:
- New Listings decreased 10.5% to 1,051
- Pending Sales decreased 17.5% to 726
- Inventory decreased 8.9% to 12,089
For the month of January:
- Median Sales Price increased 11.6% to $178,500
- Days on Market decreased 12.3% to 93
- Percent of Original List Price Received remained flat at 93.5 Months Supply of Inventory decreased 12.5% to 2.8
All comparisons are to 2013
Click here for the full Weekly Market Activity Report.From The Skinny.