Minnesota Real Estate Home Sales Report!

Minnesota Real Estate Home Sales Report!

Price Appreciation - Nationally, the median average sales price fell compared to last year, down 7.75% in the Northeast, and -16.73% in the West. Median Average - The median average is the "midpoint" sales price. Half the homes were sold above that price and half below. Inventory nationally by -8.0%. The new median average sales price of a home was $202,300. The Midwest showed the smallest decline of -2.93%, followed by reductions of value by -5.06% in the South, -Rises - It would take 11.2 months to sell all the existing homes currently available on the market....and people keep listing. There are more than four and a half million homes listed for sale. We're selling less than five million a year. Inventory is measured in two ways. "How many homes are available for sale?" and "How many months would it take to sell the total number of homes available for sale right now, at the current sales pace?" When the sales pace declines, inventory measured in months will increase, even if the same number of homes are for sale. (realestateabc.com)