Feb. 1st, 2024 Twin Cities Market Update

New listings are outpacing pending sales as we push on in the new year. That will expand some of the inventory for buyers, which is still much needed. Sellers are taking the same amount of time as last year in selling their home, with an average of 50 days right now. That is also resulting in less than full price received from buyers, with an average of 96.7% of the original list price received. Interest rates have held pretty steady around 6.8% since mid December.