A big surge of listings hit the market in April but new listings in May dropped about 1/3 in both Hennepin and Ramsey Counties. Pending sales and closed sales dropped as well. Possibly preparations for the end of school, graduations, proms, and Memorial Day plans impacted our May market. Comparing month to month is usually erratic. Year to year comparisons are better for evaluating whether the market truly is changing.
The above figures were based on information from the Regional Multiple Listing Service of Minnesota, Inc. for the period April 1, 2007, through May 31, 2007. Information is deemed reliable but not guaranteed.
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