Influx of New Listings Fuels Twin Cities Housing Market

Anyone on the front line of the real estate industry has felt the pressure of the market.  I cannot remember the last time we either had an offer or helped a buyer write an offer that was not in SPAARmultiple offers.  Today a News Release was sent out on behalf of SPAAR:

The Saint Paul Area Association of REALTORS® announced today that a 10.7 percent boost in new Twin Cities real estate listings, compared to those in April 2014, has resulted in an increase in pending sales of 26.0 percent to 6,329. Despite the 8,613 new listings last month, inventory levels fell 1.9 percent to 15,115 units.

Prices also continued to gain traction in April with the Median Sales Price increasing 10.0 percent over the prior year to $215,600. Sellers enjoyed a 4.5 percent decline in the time properties are on the market, bringing the average to 85 days. Months of Supply Inventory also benefitted sellers as it fell 5.6 percent to 3.4 months.

“Considering the sales pace and price increases, this surge in new listings certainly is a welcome addition to the marketplace. Today’s new listings will become this summer’s closed sales and should give buyers more options,” said Tom Wiener, President of SPAAR.

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About the Author

Katy Korby is the CFO of the Korby Home Team. Her passion is ensuring that our clients have an out-of-this-world experience selling their homes with the Korby Home Team. Katy comes to us with a diverse background and a unique skill set that enhances the client experience. Her attention to detail and care for people make her a wonderful asset to the team. Graduating with a degree in Theater, Katy has performed in numerous plays and most recently starred in a locally produced indie film that is being entered info film festivals around the nation. Katy’s experience in the work world include many positions within the accounting world including tax preparation, bookkeeping, and full-charge accounting. Most recently before joining the Korby Home Team, Katy was the Market Center Administrator for Keller Williams Integrity Realty in Roseville, where she was the full-charge accountant and handled budgeting and forecasting for the company as well as day to day operations and administration of an 80 person real estate office. Katy and her husband have two children, Libby and Calvin, and have lived in Como Park for almost two decades. In 2013, Katy completed the Tough Mudder 10 mile event and is a proud member of the “Finishers” group! For fun, Katy loves reading, photography and gardening and spending time with her family.