March 2015 real estate update… healthy and energetic start to the selling season

March 2015 Twin Cities real estate market stats are in and show a great start to the selling season. New listings took a nice jump up, 21.4% higher than last year.

2015-03-new listings

Closed sales were also up, 21.0% over last year when closed sales were down 16-17% compared to the previous two years.

2015-03-closed sales

But even more significant, pending sales (the indicators of coming closed sales) were up a whopping 30.0% after being down 9.8% last year.

2015-03-pending sales

Sellers should be happy to see median sale prices continue to float above recent years, with March 2015 median sale price at $210,000… 10.5% higher than March 2014. Sellers received an average of 95.9% of list price.

2015-03-median price

With the increase in pending sales higher than that of new listings it should come as no surprise that the total number of homes for sale is still relatively flat compared to last year… as is the months supply of inventory, which has been at 3.3 months in March for the last three years! This indicates it is still a seller's market… it is considered a balanced market when the months supply of inventory is between 4 and 6 months.


With the job market continuing to improve and mortgage interest rates expected to remain where they are at least through June, things look promising for home buying activity this spring.

The figures above are based on statistics for the combined 13-county Twin Cities metropolitan area released by the Minneapolis Area Association of Realtors.

Never forget that all real estate is local and what is happening in your neighborhood may be very different from the overall metro area.

  • Click here for local reports on 350+ metro area communities
  • Click here for current interactive market analytics by area, city, county, neighborhood or zip code

Sharlene Hensrud, RE/MAX Results – EmailMinneapolis – St. Paul Real Estate Market

The team at HomesMSPSharleneJohnAngela Minneapolis-St. Paul Realtors


Written By

I love what I do! Highly insightful, analytical and creative, there is nothing I love more than helping you find the right solution for your real estate transition. My mission is to serve my clients with honesty and integrity, exceeding their expectations in service and support… and to help others by donating a portion of every transaction to Habitat for Humanity.

Subscribe to Our Newsletter for Market Updates & Mid-Century Modern Listings

Our weekly HomesMSP Update includes current local market information and a curated list of mid-century modern properties for sale, plus posts from an inspector, a lender, a stager, info about neighborhoods, life in the Twin Cities… even recipes!


Blog Categories


Sharon and John Hensrud

About Us

The HomesMSP Team is committed to meeting you where you are and listening… really listening to understand you so we can use our extensive knowledge of the market and local neighborhoods to give you personalized service.