According to the Minneapolis Area Association of REALTORS’ January 2016 Report on the Twin Cities Area Housing Market, January ended with 4167 new active listings of homes for sale, an increase of 60 percent month-over-month. As compared to the previous year, new listings are down 7.2%.
January total inventory level sits at 10,065 homes on the market. Inventory is down -22.2% from the previous year and -0.1% as compared to the previous month.
During January, there were 2799 sold listings, a 28.4% decrease compared to the previous month and 17.8% increase compared to this time last year.
Home prices continue to remain steady. The average sold price for a single family home was $262,534, down only 2.45% compared to last month, and 6.8% higher than a year ago.
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