For Week Ending April 8, 2017

With both inventory and months of supply struggling to keep up with demand, it will not be unusual to see some weeks where pending sales post a year-over-year decline, especially if new listings droop below the standards set during the prior year. Meanwhile, we can continue to expect to see sales prices forge their way upward and affordability shrink downward in what is expected to be a pleasant spring and summer for sellers.

In the Twin Cities region, for the week ending April 8:

• New Listings increased 1.4% to 2,013
• Pending Sales decreased 9.1% to 1,337
• Inventory decreased 21.7% to 10,188

For the month of March:

• Median Sales Price increased 7.0% to $237,500
• Days on Market decreased 14.1% to 73
• Percent of Original List Price Received increased 1.3% to 98.1%
• Months Supply of Inventory decreased 19.2% to 2.1

All comparisons are to 2016

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