Market Trends are Shifting Toward Sellers, Buyers Still Finding Great Deals

The current market in the Twin Cities continues to show signs of strengthening with high sales levels and decreasing inventory levels. This is leading to lower days on market and a higher sale to list price.

In the Twin Cities region, for the week ending Feb. 18:

• New Listings decreased 7.1% to 1,256
• Pending Sales increased 28.6% to 899
• Inventory decreased 23.2% to 17,756

For last month:

• Median Sales Price decreased 3.4% to $140,000
• Days on Market decreased 8.5% to 142
• Percent of Original List Price Received increased 3.4% to 91.2%
• Months Supply of Inventory decreased 34.2% to 4.

When I look at just the Hudson Market for last month:

• New Listings decreased 33.3% to 30
• Closed Sales increased 7.1% to 15
• Average Sales Price decreased 10.3% to $167,210
• Percent of Original List Price Received increased 0.6% to 88.6%
• Days on Market Until Sale decreased 7.6% to 136
• Inventory of Homes for Sale decreased significantly 35% to 152
• Months Supply of Inventory also decreased significantly 35.3% to 6.6

Therefore, the Hudson market has not heated up as much as the metro average, but inventory has decreased to balanced market levels. Although, in the lower price ranges were are already seeing a shortage of inventory. If you are curious to see how your home stacks up in this market, contact an agent to look into the market for your particular type of home.