NW Metro March Market Update - Twin Cities NW Metro Life

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NW Metro March Market Update

March Market Update From Myra Jensen at BRIX Real Estate

TC real estate…..”Median rental prices have increased by double-digits for eight consecutive months,rising 19.8% year-over-year. While home prices continue to climb, according to Realtor.com’s January Rental Report, buying a starter home is more affordable than renting a similar sized apartment in more than half of the nation’s largest metropolitan areas.

That’s because, nationally, rent growth is rising faster than home prices, with economists expecting rental prices to outpace listing price growth in 2022.

In the Twin Cities region, for the week ending February 19: • New Listings decreased 3.0% to 1,057 • Pending Sales decreased 11.0% to 913 • Inventory decreased 19.2% to 4,429For the month of January: • Median Sales Price increased 10.6% to $333,000 • Days on Market decreased 2.4% to 41 • Percent of Original List Price Received increased 0.1% to 99.6% • Months Supply of Homes For Sale decreased 20.0% to 0.8″

FROM MINNEAPOLIS AREA REALTORS®

Myra Jensen

Myra Jensen

I'm Myra Jensen, lifestyle blogger and Realtor at BRIX Real Estate. I live and work in the Twin Cities NW Metro and love everything this beautiful area has to offer. If you live in the NW Metro or are thinking about moving here, you have come to the right place! Stay up to date with NW Metro, Events, Restaurants, Outdoors, Real Estate and more!
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