Real EstateMinnesota real estate market continues to pinch first-time buyers

Minnesota real estate market continues to pinch first-time buyers

Home listings across Minnesota are declining, leading to rising prices on the inventory that’s left.

New listings were down 6.7% in April, compared to the same period last year, according to data released Wednesday by Minnesota Realtors. The lack of new listings caused closed sales to slump 10.9%.

Meanwhile, buyers fighting for this diminished inventory caused the median price to jump 11.5% to $340,000 statewide. The average seller is now receiving 102.8% of their asking price, a .7% increase…

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