Housing market in southern Minnesota sees gains in February, March

MANKATO, Minn. (KEYC) - The south-central Minnesota housing market soared above state averages during the first three months of 2020 despite the pandemic.

During the first 20 days of March, our region saw a 26.5 percent increase in sales closings and a 45.5 percent bump in sales listings, which the Minnesota Realtors organization likens to a strong economy and low-interest rates.

“The last ten days saw a significant dip as far as showing activity and number of listings coming on the market. There’s still activity out there, but it’s just not nearly as robust as it was early in the first three months. Especially February and March which were very good months,” says Minnesota Realtors CEO Chris Galler.

Financial assistance provided by the CARES act may provide a buffer system for potential home buyers and sellers unlike the last decade’s recession.

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