Twin Cities Housing Market Update for December 2016
According to the Minneapolis Area Association of Realtors December 2016 Report on the Twin Cities Area Housing Market, December ended with 2387 new active listings of homes for sale, a decrease of -36% month-over-month.
December total inventory levels sit at 8197 homes on the market. Inventory is down 26% from the previous year, and inventory levels month over month are are down 23%.
During December, there were 4260 sold listings which is a 5% decrease compared to the previous month. Home prices see a minimal decrease. The average sold price for a single family home was $273,539 an decrease from $276,230 last month, and 3% higher than a year ago.
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