The Minnesota spring housing market stayed strong in May, with closed sales up +14.5% and pending sales increasing by +9.4% over 2020. Once again demand continues to squeeze available inventory as new listings only inched above last May’s levels at +0.2% - a cycle that likely will only be broken by increased inventory or higher interest rates that slow demand.
Read the full housing report: http://bit.ly/MNR_HousingReport_May21
FROM "BRING ME THE NEWS" (bringmethenews.com)
The Twin Cities real estate market is showing few signs of cooling off.
Minnesota Realtors on Monday revealed its latest monthly housing market report for the Twin Cities. In the seven-county metro region, the media sale price in May 2021 was a whopping $350,000. (That's up from $300,000 in May of 2020.)
Houses are lasting an average of just 22 days on the market, with sellers receiving 104.1% of the list price.
Overall, demand remains high while supply is still low, with less than a month's supply of inventory on the market, according to Minnesota Realtors. CLICK HERE TO READ MORE
When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.