In my local market of Roseville/Como Park of the Twin Cities (St. Paul/Minneapolis) in Minnesota it appears either the spring market is here or we are seeing a turn around. In the past month or so the active listings are not rising very fast, in fact in some areas the active listings are declining in respect to the rising pendings!
Homes priced in the $175,000-$225,000 price point that are clean and ready to move in are selling very fast. I can think of a whole hand full that were sold in less than 2 weeks. The average days on market for these areas is only 50 days.
Also the Twin Cities was tagged as a declining market, though in speaking with a loan officer today, it appears that Chase Mortgage is not including some areas of the Twin Cities as declining markets now! Maybe we have hit bottom or the end is very near. Is anyone else seeing this type of positive results in the market?