Home sales dropped last month along with the temperature. A scarcity of new listings combined with the extreme cold led to a 13% decline in homes sold in January from one year ago. On a positive note sellers saw an 12.4% increase in the median sales price to $179,000 and were receiving on average 93.5% of their asking price. The strong data for sellers despite the winter weather points to an opportunity for sellers to get a jump on the spring market.
Full Article- Buchta, J. (2014, February 13). January’s bitter cold puts Twin Cities home sales on ice. Minneapolis Star Tribune.
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