Tightest Twin Cities Housing Market Since 2003

Home sales across the Twin Cities rose again in October as housing supply continues to tighten.   According the Minneapolis Association of Realtors, just 5,249 properties came to market in October, nearly a 10% decline from the same month in 2015.

At this pace, there is only a two and half month supply of homes on the market, making it the tightest market since 2003.  Buyer demand is still very high across the Twin Cities with, especially for entry-level homes, where inventory is even tighter.   Homes priced between $190,000 and $250,000 has a 19% decline inventory in October compared to the same month last year.

Buyer are competing, as most sellers are seeing multiple offers, and keeping prices strong.  Experts indicate that prices will remain firm throughout the winter months.

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