2024 Housing Report For January

Dated: February 15 2024

Views: 62

Year Off to Promising Start with
Gains in Listings and Sales

The housing market started heating up as we kicked off 2024. Closed Sales increased year over year for the first time since June 2021—ending a two-and-a-half-year drought. Along with closed sales, new listings spiked, and home prices rose modestly.  

 

“It’s fairly clear that things are shifting, and we’re encouraged to see market activity picking up, though not at the intense pace of a few years ago,” said MNR President Geri Theis. “Gains in buyer and seller activity are important, but affordability and a lack of housing supply will continue to pose challenges in the market, especially for first-time buyers.”

 

January Year-Over-Year Summary of Key Market Indicators: 

  • Closed sales: 3,260 (up 7.9%) 
  • Median sales price: $315,000 (up 3.0%)
  • Average sales price: $366,732 (up 0.4%)
  • New listings: 5,138 (up 17.9%)
  • Pending sales: 3,915 (up 7.7%)
  • Days on the market: 52 (no change)
  • Homes for sale: 10,068 (up 7.0%) 

Click on the button below to read our full January 2024 Housing Market Report. CLICKING HERE by MN Realtors

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Noel Johnson

Passion for investing in real estate brought me to create Premier Real Estate Services in 2002. Years of purchasing, developing, and managing several rental properties, while assisting friends & cli....

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