National Real Estate Updates
NAR, realtor.com® Report Housing Supply and Affordability Are at Odds in Markets Across U.S.
- WASHINGTON (April 18, 2018) - On a national level the affordability for housing is down from the the previous year. Less households are able to afford the current active inventory based on their income. According to joint research from the National Association of Realtors® and realtor.com®, a leading online real estate destination.
Twin Cities Real Estate Update
Twin Cities Home Prices
As you can see from the graph below, we have seen steady listing price increases on home prices in the Twin Cities. We expect seasonal acceleration in the spring and anticipate many motivated buyers and sellers making their moves before interest rates rise. To make sure you don't overpay for your home, you'll want to have an agent that does a thorough market analysis of the Twin Cities home on which you are making an offer.
Twin Cities Real Estate Report Summary
- The median list price in March for single family homes in Twin Cities is $319,900. The list prices decreased by -4.47% from the previous month.
- The price per square foot for listings in this area is $140.
- Homes are selling on average for 100.1% of the current list price.
- The average days on the market in this area is 61.
- 2,931 SOLD in March, up +51.16% from the previous month.
- The Months Supply (Inventory of homes for sale) is 1.8. In a balanced market, months supply average 3.5. This is a SELLERS MARKET
Local Home Prices
55038 (Hugo, Centerville and Lino Lakes) See Map
- The median list price in March for single family homes in 55038 is $359,900. The list prices decreased by -8.44% from the previous month.
- The price per square foot for listings in this area is $146.
- Homes are selling on average for 99.4% of the current list price.
- The average days on the market in this area is 94.
- 27 homes SOLD in March in 55038, up 80% from the previous month.
- The Months Supply (Inventory of homes for sale) is 2.7. In a balanced market, months supply average 3.5. This is a SELLERS MARKET
55110 (White Bear Lake, Gem Lake, Birchwood Village) See Map
- The median list price in March for single family homes in 55110 (White Bear Lake, Gem Lake, Birchwood Village) is $294,500. The list prices increased by +1.58% from the previous month.
- The price per square foot for listings in this area is $135.
- Homes are selling on average for 100.1% of the current list price.
- The average days on the market in this area is 35.
- 27 home SOLD in March in 55110, up 3.84% from the previous month.
- The Months Supply (Inventory of homes for sale) is 1.2. In a balanced market, months supply average 3.5. This is a SELLERS MARKET
Mpls and Saint Paul Condo Stats
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This real estate market data for the Twin Cities area and for the Hugo, Centerville, Lino Lakes, White Bear Lake, Gem Lake, and Birchwood Village local markets provided by Sarah Marrinan of Keller Williams Premier Realty North Suburban and Call Sarah First, Inc. WRITTEN PERMISSION REQUIRED TO QUOTE ANY PART OF THIS INFORMATION ON THE WEB OR OTHER MEDIA. The link to this page may be shared without written permission through social media channels.
About the author: The above article “Twin Cities Market Update” was provided by Sarah Marrinan.With multiple certifications, awards and experience, if you’re thinking of selling or buying, I’d love to share my knowledge and expertise. Proudly servicing the following Twin Cities, MN areas: White Bear Lake, Hugo, Lino Lakes, Centerville, Vadnais Heights, Shoreview, Mounds View, Circle Pines, Mounds View, Forest Lake, Columbus, Wyoming, Saint Paul, Minneapolis, Roseville, Lake Elmo, Stillwater and Oakdale, MN.Visit Sarah’s website at www.CallSarahFirst.com.