Housing Market in the Twin Cities in March the Best in a Decade
The Twin Cities housing market was hot last month. In fact, it was the strongest March we have seen in a decade. Buyers were given more options when it came to available homes on the market, and mortgage interest rates continued to remain low.
According to the recent monthly report by the Minneapolis Association of Realtors, 5,301 purchase agreements were signed last month by buyers. This was a 30% increase and the largest increase we have seen in over a decade. Not only were purchase agreements up so too were closings. The number of closings in March rose 21% over last year.
Homes are selling quickly and home prices are continuing to rise. The median sales price last month increased by 10.5% to $210,000. This was the strongest gain we have seen in a year.
Now is the perfect time to buy or sell a home in the Twin Cities If you are looking to buy or sell a home this spring contact me. Our group specializes inEden Prairie Real Estate,Chanhassen Real Estate,Chaska Real Estate,Lake Minnetonka Real Estate,Edina Real Estateand West Bloomington Real Estate.
Brace Helgeson Coldwell Banker Burnet
Licensed in Minnesota/Lic # 92065