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For Week Ending February 9, 2019
For the third of four weeks, it is worthwhile to mention the weather when discussing residential real estate in large portions of the U.S. After a relatively quiet December and January, February has turned in some impressively cold and snowy days that have stalled some buying and selling actions. That said, housing markets are proving to be resilient in the face of predictions of a tougher year for the industry. It’s early, but economic fundamentals remain positive.
In the Twin Cities region, for the week ending February 9:
- New Listings decreased 17.4% to 1,135
- Pending Sales decreased 13.9% to 765
- Inventory increased 1.2% to 7,966
For the month of January:
- Median Sales Price increased 6.1% to $259,000
- Days on Market decreased 5.8% to 65
- Percent of Original List Price Received increased 0.1% to 97.0%
- Months Supply of Inventory increased 6.7% to 1.6
All comparisons are to 2018