Buyer activity: up. Seller activity: down. That could soon change if sellers begin to increase their activity levels entering the spring market. They've understandably been a tad shy lately, but the changing landscape is starting to register with well-informed homeowners looking to move.
Buyers have shown that they refuse to let one of the most attractive purchase environments pass them by. As activity revs up this spring, not all segments will benefit equally. Which is exactly why the numbers are so central to assessing both the breadth and depth of market recovery.
In the Twin Cities region, for the week ending March 10:
• New Listings decreased 0.3% to 1,450
• Pending Sales increased 20.9% to 995
• Inventory decreased 24.3% to 17,899
For the month of February:
• Median Sales Price decreased 1.4% to $138,000
• Days on Market decreased 9.1% to 145
• Percent of Original List Price Received increased 2.6% to 90.6%
• Months Supply of Inventory decreased 35.8% to 4.7