For Week Ending January 16, 2016

A pattern is emerging that shows a fresh willingness by sellers to put homes on the market and buyers to enter the market. New listings are on the rise, if not in year- over-year comparison, then certainly in week-over-week views, as we bounce well past the new year. Inventory is seemingly unfazed by the new 2016 calendar on the wall, as the trend line has remained roughly the same for the first weeks in January as the last weeks in December. If sales activity builds on what’s happening now and reaches a slow boil, it would be surprising if more inventory mix wasn’t added to the water soon.

In the Twin Cities region, for the week ending January 16:

• New Listings decreased 8.8% to 978
• Pending Sales increased 3.5% to 672
• Inventory decreased 20.3% to 10,392

For the month of December:

• Median Sales Price increased 9.9% to $219,900
• Days on Market decreased 11.2% to 79
• Percent of Original List Price Received increased 1.3% to 95.4%
• Months Supply of Inventory decreased 31.3% to 2.2

All comparisons are to 2015

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