How’s the Market?

One of the most common questions I’m asked is “How’s the market?” The answer lies in data — local data drawn from a reliable up-to-date source. In the Twin Cities metro that means our local MLS database, Northstar MLS. Below are interactive charts from Northstar showing key data points as indicators of market activity to help buyers better understand current conditions.

What’s the median sales price?

Single-Family Homes | 5-year trend

Townhouses-Condos | 5-year trend

Is it a buyer’s or seller’s market?

The months supply of homes for sale determines which side the market favors. Typically, 5-6 months represents a balanced market. Fewer homes for sale favors sellers, more favors buyers.

Single-Family Homes | 5-year trend

Townhouses-Condos | 5-year trend

If you would like information on different cities, specific neighborhoods, or specific property types feel free to reach out.