Twin Cities Real Estate Market Update provided by Myra Jensen, The Jensen Team – Home Marketing Experts of Keller Williams Classic Realty NW. These statistics from the Minneapolis Area Association of Realtors and Northstar MLS are updated daily.
If you are interested in current inventory on the market in the Twin Cities, you can find that information by clicking on the link. High inventory will suggest that homes are sitting on the market for longer. Sellers should make sure to price their home near the market value if they expect to get an offer from one of those interested buyers. If you price a home at market value, and market it correctly in an appreciating market, there is an excellent opportunity for the home to sell above list price with terms that meet the sellers needs. Find out what your home is worth in the current market or call 763-463-7590.
Please check back here often for the latest Twin Cities Real Estate Market Update. This page is updated daily.
Median Sales Price
Calculations are based on sold data. Prices do not account for seller concessions. Median represents the point at which half of the homes that sold in a given month were priced higher and half were priced lower. Average is the mean sales price for all closed sales in a given month.
Months Supply
Active inventory vs. the last 12 months of homes deemed Under Contract. Also known as “absorption rate” in some circles. Over 6 Months supply is known as a “Buyers Market”, 5-6 Months is “Balanced” and Under 5 Months is known as a “Sellers Market”
Median Days on Market
Median or average number of days between when a property is listed and when an offer is accepted in a given month. Calculations are based on sold data.*
Closed Sales
A count of the actual sales that have closed in a given month. For those familiar with NorthstarMLS data fields, this includes SOLD and COMP SOLD figures. Calculations are based on sold data.
Homes for Sale
The number of properties available for sale in active status at the end of a given month. Also known as inventory.
Average Price Per Square Foot
* Sales with a Days on Market of less than 0 or more than 900, or a Percent of Original Price that is less than 50 percent or more than 200 percent, are added to the sales count but are not factored into price, price per square foot or days on market.
Find Homes for Sale in the Twin Cities
Please check back here often for the latest Twin Cities Real Estate Market Update. This page is updated daily.
Visit my website to find current inventory on the market in the Twin Cities, or to be notified when homes that meet your search come on the market.
Find out what your home is worth in the current market or call 763-463-7590.
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