The latest report from Mpls Area Association of Realtors.  Months supply of inventory is quite low at 3.2 months.  At the height, we had approximately an 11 month supply.  Supply is low, Demand is Up & if you remember from Econ 101, that means it is a Seller's Market.

 

You’re busy – planes to catch, open homes to see and little league games to coach. But in less time than it takes to lint roll a favorite set of slacks, you can catch up on the most up-to-date and local housing market trends. Don’t clutter your brain with big data that has muddled together home sales from across the county. Get ahead of the curve by zeroing in on your region’s market and nothing else.   Read on for the good stuff. In the Twin Cities region, for the week ending May 11: • New Listings increased 25.1% to 1,858 • Pending Sales increased 16.2% to 1,305 • Inventory decreased 27.5% to 13,556  For the month of April: • Median Sales Price increased 12.0% to $182,000 • Days on Market decreased 28.1% to 97 • Percent of Original List Price Received increased 2.7% to 95.9% • Months Supply of Inventory decreased 36.0% to 3.2