The Twin Cities housing market continues to roar ahead as today the Minneapolis Area Association of REALTORS released April’s home sales activity. While the report is full of good news, the best data point is the Pending Sales:
April 2015 saw the most homes go under contract in the Twin Cities in 10 year – a stunning 26% jump from a year ago and a phenomenal sign of the housing market’s renewed strength.
Closed sales also did great last month, up 20% from a year prior:
Median Sales Price was also up a healthy 10% versus a year ago:
The number of months of supply of homes for sale continues hover near 10 year lows, which will continue to frustrate buyers and drive further price appreciation this year. As prices continue to rise, many experts predict more homeowners to list their home for sale, however with so much buyer demand it is going to take some record new listing activity to really more the inventory peg much: