Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Just Out: Pending home sales in the Twin Cities at their highest level since June 2005

Posted by: Jim Buchta under Buying Updated: June 12, 2013 - 12:28 PM

There’s another sign that it’s becoming a seller’s market in parts of the Twin Cities. Pending home sales in the Twin Cities metro got a 20-percent boost last month, rising to the highest level since 2005. New listings were up during the month, as was the median sale price, which was 15 percent higher than last year. Here’s a summary of the data:

  • Pending sales were up 18.5 percent to 5,872.
  • New listings rose 26.2 percent to 8,332 units.
  • Total inventory stood at 14,375 properties, 22.3 percent fewer than in May 2012, but 11.6 percent more than in January 2013.
  • The median sales price of all closings last month was up 15.1 percent to $194,450, the highest median sales price since August 2008.

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