July Brings a Small Decrease in Inventory to the Twin Cities Metro Area Housing Market
July saw a small decrease in the number of homes for sale in the Twin Cities Metro area, still eager sellers brought an impressive number of new listings to the market, according to The Minneapolis Area Association of REALTORS, Minnesota’s largest MLS.
According to the Minneapolis Area Association of REALTORS, July 2015 Report on the Twin Cities-area Housing Market, July ended with 7,963 new active listings of homes for sale, a decrease of -2.9 percent month-over-month. As compared to the previous year, inventory remains fairly level. Year over year, inventory is down -0.4%
After experiencing five consecutive months of increases, home sales took a breather in July. During the month, there were 6275 sold listings, a slight month-over-month decrease and a 17.7% increase as compared to this time last year.
Home prices remained steady in July. The average sold price for a single family home was $270,121, down 1.2 percent as compared to last month, but still 3.6% higher than a year ago.
Please contact House Hunters Minnesota for a market update for your city and to learn the market value of your home.
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