According to the Minneapolis Area Association of REALTORS’ February 2016 Report on the Twin Cities Area Housing Market, February ended with 5848 new active listings of homes for sale, an increase of 40 percent month-over-month. As compared to the previous year, new listings are up 3.0%.
February total inventory level sits at 10,953 homes on the market. Inventory is down -19.4% from the previous year and up 8.8% as compared to the previous month.
During February, there were 2646 sold listings, a 5.5% decrease compared to the previous month and the same as compared to this time last year.
Home prices continue to remain steady. The average sold price for a single family home was $251,107, down 4.4% compared to last month, and 0.2% higher than a year ago.
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