The Dog Days of Summer may be here, but the news continues to be GREAT for the housing market.  Love the increase of Median Sales Price, up 17.5% - WOW.  As for what I'm seeing, I have a couple more listings coming on the market & expect them to pop relatively quickly.  If inventory is priced right & in decent condition, IT WILL SELL (kind of "Field of Dreams"ish - build it & they will come). 

Here's Mpls Area Association of Realtors latest report.

 

Weekly Market Activity Report

Nationwide, local markets have become stable enough to withstand mortgage rate increases.  Improving job & other economic sectors have fortified real, organic housing growth.  Bargain-basement deals have given way to multiple offers, stiff bidding wars and lickety-split days on market.  Inventory may still be thin, but traditional home sellers are stepping up to the plate with new listings.  It won't be long now until the housing recovery is once again referred to as just housing.

 

For the month of June:

• Median Sales Price increased 17.5% to $210,000

• Days on Market decreased 34.5% to 74

• Percent of Original List Price Received increased 2.5% to 97.5%

• Months Supply of Inventory decreased 25.0% to 3.6