June 2013 is setting records. Pending sales (houses that have gone under contract) is at the ihghest in 8 years. The number of signed purchase agreements rose more than 18%!! This is good news for sellers, and they have responded. We’ve had an increase of homes going on the market, but the buyers are snatching them up quickly. The old addage of Supply and Demand, with a low supply and high demand, means the prices will go up, and the result is a 15% increase over last year to $194,450.
You can find out more information by watching this video put out by our local Minneapolis Association of Realtors.
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