Last month I wrote that the housing market was the same as the previous month. Well, it still holds true this month as well. Median sales price for April is up 12% on more traditional sellers, and less distressed properties.
The market still remains a sellers market, with not enough inventory, and a flurry of buyers trying to get homes. 75% of the homes that I have written offers on have been in multiple offers, from as few as 3 offers per home to 14 offers on one particular home. The entry-level price point is very strong in most of the areas around the Twin Cities. The inventory is down 31% from last year, which is a 10 year low.