Is This the Start of the Spring Market?
As we step out of the deep freeze and into early spring temperatures, many are wondering: Is the Stillwater, MN real estate market finally heating up for spring? The latest data suggests we’re moving in that direction.
$798,950
Median List Price
32 homes
Inventory
48
Market Action Index
74
Median DOM
This week, the Market Action Index increased to 48, further strengthening the seller’s market. For comparison, last month’s score was 42, showing a clear upward trend in demand. Limited inventory continues to be a driving force, with only 32 homes currently available in Stillwater.
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Key Market Metrics
- Median List Price: $798,950
- Median Price of New Listings: $654,900
- Price Per Square Foot: $275
- Average Days on Market: 106
- Median Days on Market: 74
Market Segments: High Demand Across the Board
Each price quartile in the market is showing high levels of demand, with most segments trending upward. While higher-end properties may experience longer days on market, the lower and mid-range segments remain particularly competitive.
Looking Ahead: Will Spring Bring More Inventory?
Historically, early spring marks a turning point in inventory levels, as more sellers list their homes. However, if inventory remains tight, prices could continue on an upward trajectory.
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What Does This Mean for You?
For Sellers: The demand for homes continues to outpace supply, meaning pricing power is shifting in your favor. If this trend continues, we could see upward pricing pressure in the coming weeks. If you’re considering listing your home, now is an excellent time to prepare for the spring rush.
For Buyers: With low inventory and increasing market activity, competition remains high. While prices have been steady, expect stronger price growth if demand keeps rising.
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