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March housing: Closings declined, prices and listings increased

  • Blog Post by: Jim Buchta
  • April 10, 2014 - 10:46 AM

Twin Cities real estate agents say that a shortage of listings and harsh weather put a lid on home sales during March, but with fewer foreclosures in the mix and limited options for buyers in some areas, prices were up compared with last year. And those higher prices helped draw more sellers into the market. All of that is according to a monthly report from the St. Paul Area Association of Realtors. Here's a quick look at the Twin Cities housing market during March:

  • Closings: 3,133, down 16.7%
  • Pending sales: 4,141, down 8.4%
  • Median sales price: $190,000, up 7.6%
  • New listings: 6,492, up 5.5%
  • Inventory of homes for sale: 13,086, down 4.1%

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