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2012: Twin Cities Housing Turnaround

up arrow 300x225 2012: Twin Cities Housing Turnaround

The Twin Cities saw a surprising turnaround in the housing market in 2012.  While I had predicted that the Twin Cities had hit bottom in January 2012, no one, including myself, had expected as strong of a 2012 as we had.

While final numbers are not in yet, 2012 was a banner year for the Twin Cities. Prices surged, Traditional Seller activity increased while distressed sales decreased, buyer demand swelled nearly 20% and the inventory of for-sale homes dropped almost 30%.

That increase in buyer demand and decrease in inventory means a home in the Twin Cities sells on average 36 days faster than just one year ago.  At current levels, there is only a 3 month supply of homes for sale – the lowest level since 2004 and thus a Seller’s Market by definition.

2013 is shaping up to be another strong year – more on that in an upcoming post.

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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.