Twin Cities Housing Market Update for January 2016
According to the Minneapolis Area Association of Realtors January 2016 Report on the Twin Cities Area Housing Market, January ended with 4304 new active listings of homes for sale, a increase of 80% month-over-month.
January total inventory levels sit at 8212 homes on the market. Inventory is down 25% from the previous year, and inventory levels month over month are even.
During January, there were 2775 sold listings which is a 35% decrease compared to the previous month. Home prices see a minimal decrease. The average sold price for a single family home was $274,541 an increase from$273,539 last month, and 5% higher than a year ago.
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