As April encroaches and spring feels more official, so does the possibility of a brightened, exciting housing market. Even though some areas across the country have seen a pause in buyer activity, the fundamentals remain positive. Traditional home buyers are apt to bud like a spring mix of lavender, peonies and tulips. And home prices are rising as surely as soil is being tilled for another fruitful season, adding even more to those warm fuzzy feelings sure to come.
In the Twin Cities region, for the week ending March 29:
• New Listings increased 18.4% to 1,599 • Pending Sales decreased 5.6% to 1,101 • Inventory decreased 5.5% to 13,056
For the month of February:
• Median Sales Price increased 14.4% to $183,000 • Days on Market decreased 10.8% to 99 • Percent of Original List Price Received decreased 0.2% to 93.6% • Months Supply of Inventory decreased 9.4% to 2.9