MN: Twin Cities Home Sales and Prices Increased in March

Twin Cities Gay Real EstateNew housing data from the Minneapolis Area Association of Realtors show Twin Cities home sales and prices were up in March.

The numbers also show housing inventory continued to shrink, along with the amount of time homes stayed on the market before a sale. The median sales price increased by 6.4 percent from the previous March to $149,000. Homes spent an average of 144 days on the market — a drop of 10 percent.

Andy Fazendin, president-elect of the Minneapolis Area Association of Realtors, said the rise in home prices should lure more sellers into the market. “This is a pretty important moment just to make up a little ground as far as the price increase goes,” he said.

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