For Week Ending May 9, 2015

As we press through May, the residential real estate market is really hitting its paces. Sales activity has been plentiful and REALTORS® are busier than ever. The Bureau of Labor Statistics recently released April numbers, and they are still quite positive. The nation added 223,000 jobs and the national unemployment rate dropped to 5.4%. The need for more inventory is an ongoing issue, but not one that thwarts optimism in the marketplace.

In the Twin Cities region, for the week ending May 9:

• New Listings increased 7.1% to 2,117
• Pending Sales increased 24.0% to 1,526
• Inventory decreased 1.8% to 15,518

For the month of April:

• Median Sales Price increased 9.7% to $215,000
• Days on Market decreased 4.5% to 85
• Percent of Original List Price Received increased 1.1% to 97.0%
• Months Supply of Inventory decreased 2.8% to 3.5

All comparisons are to 2014

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