For Week Ending June 3, 2017

Whether or not new listings or total sales are up or down in week-to-week measures, there are two universal truths in residential real estate across the country at the moment: the market is quite active, and, thus, overall inventory is still trending downward compared to last year. That will likely be the case for the entirety of 2017, especially at the pace that homes are coming off the market.

In the Twin Cities region, for the week ending June 3:

• New Listings decreased 2.2% to 1,971
• Pending Sales increased 2.4% to 1,306
• Inventory decreased 16.0% to 11,870

For the month of April:

• Median Sales Price increased 6.3% to $245,500
• Days on Market decreased 20.5% to 58
• Percent of Original List Price Received increased 1.2% to 99.2%
• Months Supply of Inventory decreased 17.9% to 2.3

All comparisons are to 2016

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