Twin Cities Real Estate Market Insight
The Spring Selling Season: Twin Cities Pending Home Sales
Signs of an early and active Spring real estate market.
Pending Sales in the Twin Cities metro real estate market are rising quickly, as they did this time last year. The bulk of the early uptick in Pending Sales have been in ranges that are showing improvement over past years, namely those homes in values over $500,000. Over the entire region, we are seeing the pace of Pended Sales in the $250-499K range (red) outpace those homes priced under $250,000 (blue). This is a bit of a watershed moment. This shift is driven by the downward trend in the levels of inventory in this entry segment of the market. Note on the Homes for Sale chart that in April 2017 the numbers of homes for sale priced under $250,000 is just 36% of what was available 3 years ago, in April of 2014. With so little inventory available in this price range, a reduction in the number of Pending Sales is to be expected. At higher price points, the number of Pending Sales is experiencing modest percentage improvements that translate into a meaningful, and noticeable increase in activity “in the neighborhood”.
When looking at the Micro level, each community will behave differently. Take a look at the charts below. These charts update monthly, so revisit the page in the coming months, and years to see what trends you can spot.
This chart is interactive, slide cursor over graph for detailed information.
If you have questions or would like to learn how the market activity is affecting you and your neighborhood, utilize our insight by calling on our team, 612-925-8411. Let's Talk!
New Twin Cities Listings By Price
This chart is interactive, slide cursor over graph for detailed information -
Twin Cities Homes For Sale
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Twin Cities Closed Sales
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