Skip to main content

Is it spring already? Home sales take a big jump earlier than usual

  • Author:
  • Updated:

This Valentine's Day weekend, a new report finds an uptick in buyers who are falling in love with new homes.

Although it's wintry outside, the spring housing market in the metro area is heating up. The Star Tribune reports that although the spring market typically begins in March, numbers suggest this year the accelerated activity started in January, when there was a significant jump in signed purchase agreements.

On Thursday, the Minneapolis Area Association of Realtors reported that last month saw 2,986 pending sales, which is 7.8 percent more than last year. However, sales did take a hit this time last year as the polar vortex discouraged house hunting.

"Both buyers and sellers appear confident and energized and the traditional segment enjoyed a strong start to the year,” said Mike Hoffman, president of the Minneapolis association.

Eager buyers snap up new listings

KSTP reports that on average, homes listed in the metro sell in just over two months, although some have sold signs posted within a matter of days.

Buyers are eager; the Star Tribune story cited a real estate agent who had three showings for a house in south Minneapolis before the property was even officially on the market.

Buyers also have more prospective homes to walk through. In January there were 4,497 new listings, up 5.9 percent from last year. And buyers are paying more at closing, with the median sale price last month at $195,000, which represents an 8.5 percent increase over January 2014.

At the end of December, Forbes magazine made its predictions for real estate trends for the year. The financial publication anticipated that mortgage interest rates will creep higher, more millennials will become homeowners, and foreclosures will return to pre-recession levels.

Next Up


1 dead, 2 with life-threatening injuries in Minnesota crash

The crash happened just after 7:30 p.m. Friday.

Image (1)

School bus carrying students plunges into river southwest of Fargo

None of the kids suffered life-threatening injuries, though some were taken to area hospitals.

Richfield High School

Richfield High School cancels weekend events after shooting

Two men were shot outside the school's football stadium

Screen Shot 2022-09-23 at 10.21.38 PM

Sound of shots, mass panic at Richfield football game streamed live on YouTube

Gunfire caused panic at a varsity football game Friday night.

J. Gordon

K-9 search leads to $36K fentanyl seizure during traffic stop

A traffic stop was made after the vehicle was seen speeding through the area.

Screen Shot 2022-09-23 at 5.20.08 PM

Gov. Walz reacts to Tuesday death of Mankato West student

The governor is a former geography teacher at the high school.

court room

Teen pleads guilty to Minneapolis carjacking, admits to others

The man was yanked out of the vehicle by witnesses before fleeing the scene.

Federal court house

Three plead guilty to roles in murder on Red Lake Reservation

The 2019 murder left another person seriously injured.


Sheriff: Heifer shot and butchered on farmer's pasture near Aitkin

Anyone with information regarding the incident is encouraged to call the Clearwater County Sheriff's Office.


Minneapolis murder suspect arrested in Wisconsin

The man has been wanted by police since the shooting happened in April.