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 Janet Moore.

Home sellers outpaced buyers in the Twin Cities last month

Posted by: Jim Buchta under Buying Updated: August 12, 2014 - 10:32 AM

With house prices on the rise there were more home sellers than buyers in the Twin Cities metro during July, according to a monthly report from the Minneapolis Area Association of Realtors. Here are the highlights of that report (we're working on a full story for the Wednesday paper):

  • There were 5,198 closings, a 9.9 percent decrease.
  • The median price of sales last month was $215,000, a 3.4 percent increase.
  • There were 8,015 new listings, a 9.8 percent increase.
  • Pending sales - an indication of future closings - was down 3.4 percent.
  • The supply of houses for sale was up 9.9 percent.

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