Twin Cities Real Estate Market Snapshot - February 2010

Here’s a snapshot of the February 2010 Twin Cities’ real estate market, courtesy of the Minneapolis Area Association of Realtors:

  • Pending sales were up more than 6% compared with February 2009.
  • Closed sales were up more than 4%.
  • The median sales price was up 6%.
  • There were on average only six months of inventory, down 23%.
  • Mortgage rates were down 8.5%; housing affordability is near record levels

These are all signs that the market may be stabilizing; the last bullet should be extremely encouraging to anyone who is thinking about buying. If you’d like a copy of the market report for your real estate area, please email me at vicky@vickynann.com.


Posted by Vicky Nann on 03/19/2010