For Week Ending February 2, 2019

Despite weather events that have brought frigid temperatures and heavy snow to large swaths of the U.S., residential real estate markets have performed better than anticipated so far this year. While a complete downturn in sales and prices was not at all expected, some softening was anticipated. Instead, pending sales are performing well in many markets, while new listings are not experiencing any negative swings of concern.

In the Twin Cities region, for the week ending February 2:

– New Listings decreased by 9.2% to 912
– Pending Sales increased 4.4% to 834
– Inventory increased 2.6% to 8,023

For the month of December:

– Median Sales Price increased 4.0% to $258,000
– Days on Market decreased 6.6% to 57
– Percent of Original List Price Received decreased 0.2% to 96.9%
– Months Supply of Homes For Sale increased 13.3% to 1.7

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