Twin Cities Market Update- April 2022
The median price of a home in the Twin Cities metro area is currently $343,781 which is 10.9% higher year to date from this time last year. There are roughly 6,686 homes on the market as of the date of this blog post which is a 20.1% drop in inventory year to date.
To be a healthy market, the Twin Cities needs apx. 16,000 homes to support our population. The lack of inventory is what is leading to a higher sale price.
The source of this information is the NorthstarMLS. If you would like more information, please contact a Ferndale Realty adviser today.