According to the Minneapolis Association of Realtors, March reported that the median sales price of Twin Cities homes was higher than a year ago. Price per square foot increased for the first time since June 2010 as well.
Pending home sales were up 20.4 percent, higher than any of the months in 2007, 2008 or 2011. Sellers are getting closer to their asking price in less time because of this upturn. Below are some statistics for our area.
|Median Sales Price||166,000||136,000|
|Days on Market until sale||145||112|
|Inventory of Homes for Sale||31||24|
|Median Sales Price||341,000||330,726|
|Days on Market until sale||168||120|
|Inventory of Homes for Sale||83||73|
|Median Sales Price||194,540||160,000|
|Days on Market until sale||174||141|
|Inventory of Homes for Sale||89||69|