Inventory and New Listings are Down in November
According to the Minneapolis Area Association of REALTORS’ November 2015 Report on the Twin Cities Area Housing Market, November ended with 3785 new active listings of homes for sale, a decrease of -8.8 percent month-over-month. As compared to the previous year, new listings are down down -34.7%.
November’s total inventory level is 12,984 homes on the market. Inventory is down -13% from the previous year.
During November, there were 3343 sold listings, a -27.9% decrease compared to the previous month and -18.5% compared to this time last year.
Home prices remained steady in November. The average sold price for a single family home was $268,100, up a bit from compared to last month, and 7.1% higher than a year ago.
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