Housing Supply Constraints Continue Throughout Summer Months

Low inventory of housing across the Twin Cities continues throughout the summer months.  Many potential sellers are choosing to hold off marketing their home for sale, as they are waiting for opportunities to purchase a new home, but are finding that there are limited options in the current marketplace.

Tight supply has been great for sellers.  Across the Twin Cities, the average percent of original list price received at the time of sale was 98.4% in July of 2016, the highest percentage for any July month dating back to 2005.  Homes have also been selling quickly.  In July, the cumulative days of market fell to just 53 days, the fastest market time for any month dating back to 2007.  The month’s supply of inventory also dropped to 2.9 months, the lowest July figure on record since 2003.  In a balanced market, the month’s supply levels are generally 5 to 6 months.

Check out Minneapolis homes for sale:

Minneapolis Real Estate and Homes For Sale $100,000 – $150,000
Minneapolis Real Estate and Homes For Sale $150,000 – $200,000
Minneapolis Real Estate and Homes For Sale $200,000 – $250,000
Minneapolis Real Estate and Homes For Sale $250,000 – $300,000
Minneapolis Real Estate and Homes For Sale $300,000 – $350,000
Minneapolis Real Estate and Homes For Sale $350,000 – $400,000
Minneapolis Real Estate and Homes For Sale $400,000 – $450,000
Minneapolis Real Estate and Homes For Sale $450,000 – $500,000
Minneapolis Real Estate and Homes For Sale $500,000 – $550,000
Minneapolis Real Estate and Homes For Sale $550,000 – $600,000
Minneapolis Real Estate and Homes For Sale $600,000 – $650,000
Minneapolis Real Estate and Homes For Sale $650,000 – $700,000
Minneapolis Real Estate and Homes For Sale $700,000 – $750,000
Minneapolis Real Estate and Homes For Sale $750,000 – $800,000
Minneapolis Real Estate and Homes For Sale $800,000 – $850,000
Minneapolis Real Estate and Homes For Sale $850,000 – $900,000
Minneapolis Real Estate and Homes For Sale $900,000 – $950,000
Minneapolis Real Estate and Homes For Sale $950,000 and up