You may have read in the media that June 2015 pending and closed sales were the highest they have been in 10 years… that's why we have been so busy!
What I think best shows the return of a healthy market is the chart below from the Minneapolis Area Association of Realtors. It breaks sales out by traditional, foreclosures and short sales and dramatically shows how traditional sales have sky rocketed! It is amazing to see how traditional sales were even below lender owned foreclosures at some points… not now!
Median sale price continues to rise along with traditional sales, up to $229,900 in June.
New listings have been holding steady, still above last year.
Pending sales have been doing the same, but more noticeably higher than last year. Pending sales in prices ranges from $190,001 to $500,000 all increased 21-22% over last year.
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.
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Sharlene Hensrud, RE/MAX Results – Email – Minneapolis – St. Paul Real Estate Market
The team at HomesMSP - Sharlene, John, Angela – Minneapolis-St. Paul Realtors