For Week Ending May 27, 2017

The current situation for residential real estate is the ongoing situation for residential real estate. The market is active, and the trend lines are showing nothing out of a long-standing ordinary. There may not be as many homes for sale as one would like, and price increases are starting to make one look more closely at affordability, but real estate professionals are busy, and buyers and sellers are dancing in mutually beneficial transactional pairs.

In the Twin Cities region, for the week ending May 27:

• New Listings decreased 2.7% to 1,689
• Pending Sales decreased 13.9% to 1,439
• Inventory decreased 17.0% to 11,850

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.