With closed sales down by almost 11% over last April, the sales season was off to a comparatively slower start. Historically, the numbers indicated a return to more normal patterns for this time of year. Declines in new listings, which were down nearly 7% compared to a year ago, contributed to softening sales, according to Minnesota Realtors.
Sales may be softening but the demand is still very high and as a result, prices continue to rise. As I recall last April new listings were up a bit due to the pandemic which caused a kind of roller coaster effect.
This is at least the fifth year of the strong seller’s market due to high demand for houses and a low supply. I like the idea of this being a “slower” start to the season. So far that is the kind of spring we have had. The days on market were about 22 in St. Paul which is below the state average of 30.