Buyer and Seller Activity Increase as Spring Market and Warm Weather Arrive
Minneapolis, Minnesota (March 14, 2016) – February Pending sales rose 6.7 percent while new listings increased 3.0 percent. The all-too-familiar supply crunch continued as inventory levels fell 19.4 percent to 10,953 active properties. Prices continued their steady climb back towards 2006 levels. The median sales price gained a sustainable 3.7 percent from last February and is now at $207,395. Median list price, by contrast, has already reached and exceeded its previous record, perhaps an indication that the median sales price could do the same this year.