Twin Cities Housing Supply Outlook
provided by MAAR
Sales growth is strongest now in the townhouse segment. Over the last 12 months the number of sales has increased by 24.4 percent, compared to increases of 14.8 percent and 11.8 percent for single-family and condo homes, respectively. All of that townhouse sales growth can be found in the price segments below $150,000.
Below $120,000 there is only 3.1 months of supply, down from the mark of 6.1 a year ago. Above $1 million there is 32.8 months of supply, up from the mark of 24.8 from a year ago.
Sales in the higher price ranges continue to slow. The market drivers of activity in the lower price ranges (low rates, tax credits) are having little to no effect in the upper bracket segments.
provided by MAAR
Sales growth is strongest now in the townhouse segment. Over the last 12 months the number of sales has increased by 24.4 percent, compared to increases of 14.8 percent and 11.8 percent for single-family and condo homes, respectively. All of that townhouse sales growth can be found in the price segments below $150,000.
Below $120,000 there is only 3.1 months of supply, down from the mark of 6.1 a year ago. Above $1 million there is 32.8 months of supply, up from the mark of 24.8 from a year ago.
Sales in the higher price ranges continue to slow. The market drivers of activity in the lower price ranges (low rates, tax credits) are having little to no effect in the upper bracket segments.
CHAD ELLIOT, REALTOR© The Hennepin Group, LLC Keller Williams Realty 17205 Yale Street NW, Suite D Elk River, Minnesota, 55330 | Mobile: (651) 795-1147 Fax: (763) 241-0187 Email: chadelliot@kw.com | |
      | ||
