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Twin Cities Real Estate Market Update

It appears we are heading towards market normalization as improving sales and good housing starts are all working behind the scenes to alleviate the growing pains of a market still trying to recover. Housing is already starting to see signs of upward price pressure, rising consumer confidence and some inventory relief.

In the Twin Cities region, for the week ending April 19:

• New Listings decreased 2.8% to 1,571

• Pending Sales decreased 5.3% to 1,227

• Inventory decreased 0.5% to 14,148For the month of March:

• Median Sales Price increased 7.6% to $189,950

• Days on Market decreased 12.0% to 95

• Percent of Original List Price Received remained flat at 95.0

• Months Supply of Inventory decreased 6.1% to 3.1

 

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