Weekly Market Report

For Week Ending August 31, 2019

Recent mortgage rate declines may provide a small tailwind as we enter the fall housing market, giving buyers a bit more buying power and a little more incentive to lock in a home purchase. However, stock market volatility and concern of a wider economic slowdown in the coming year may temper some buyer enthusiasm. But as rents continue to rise, the value proposition of owning a home remains a compelling option and a goal of most Americans.

In the Twin Cities region, for the week ending August 31:

  • New Listings increased 4.9% to 1,359
  • Pending Sales decreased 3.1% to 1,250
  • Inventory decreased 4.4% to 12,498

For the month of July:

  • Median Sales Price increased 5.9% to $283,900
  • Days on Market remained flat at 38
  • Percent of Original List Price Received decreased 0.1% to 99.7%
  • Months Supply of Homes For Sale remained flat at 2.5

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending August 3, 2019

While financial markets are becoming more volatile in recent weeks, national and regional real estate indicators are sending mixed signals. For the first time in seventeen months, July pending sales saw moderate gains over the previous year nationally. At the same time, home prices continue to be at or near record levels in many markets as supply remains limited.

In the Twin Cities region, for the week ending August 3:

  • New Listings increased 7.1% to 1,984
  • Pending Sales decreased 1.0% to 1,341
  • Inventory decreased 3.8% to 12,152

For the month of June:

  • Median Sales Price increased 7.2% to $290,000
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.3% to 100.0%
  • Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending July 27, 2019

As we await July results, the June numbers and preliminary July indicators suggest that current trends in most real estate markets are likely to continue. Mid-to-lower priced segments continue to experience imbalances favoring sellers, leading to steady year-over-year increases in price, outpacing inflation in many markets. Although the Fed rate decrease dominated the news this week, industry experts seem to agree this event by itself is unlikely to have much effect on mortgage rates and real estate markets, at least in the short term.

In the Twin Cities region, for the week ending July 27:

  • New Listings decreased 4.7% to 1,736
  • Pending Sales decreased 4.9% to 1,364
  • Inventory decreased 3.0% to 12,236

For the month of June:

  • Median Sales Price increased 7.2% to $290,000
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.3% to 100.0%
  • Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending July 20, 2019

Residential real estate markets across the nation have been performing quite well at this point in the year in terms of home sales, price and inventory. Although not always true at every price point and home type in every geography, the general rule of thumb in 2019 as we stretch beyond the halfway point of the year has been a trend of relative market balance, which is a great thing for both real estate professionals and consumers.

In the Twin Cities region, for the week ending July 20:

  • New Listings decreased 2.4% to 1,883
  • Pending Sales decreased 3.6% to 1,342
  • Inventory decreased 2.8% to 12,005

For the month of June:

  • Median Sales Price increased 7.2% to $290,000
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.3% to 100.0%
  • Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Weekly Market Report

For Week Ending March 16, 2019The Federal Reserve recently announced that interest rates will remain steady and that further rate hikes are not planned for 2019. Given that the federal funds rate has increased nine times over the past three years, this is welcome news for consumers carrying high credit card balances. The overall economy, inflation and Fed actions also have an effect on mortgage rates, so it is generally good news when rate hikes are paused, especially when total sales are dropping in many parts of the nation.

In the Twin Cities region, for the week ending March 9:

  • New Listings decreased 12.2% to 1,374
  • Pending Sales decreased 20.8% to 976
  • Inventory decreased 5.8% to 8,273

For the month of February:

  • Median Sales Price increased 6.2% to $265,500
  • Days on Market remained flat at 69
  • Percent of Original List Price Received decreased 0.3% to 97.7%
  • Months Supply of Homes For Sale remained flat at 1.7

All comparisons are to 2018

Click here for the full Weekly Market Activity Report.

For Week Ending February 16, 2019

The National Association of REALTORS® has reported in the last month that national existing-home sales and pending sales are both down in year-over-year comparisons, but that has not necessarily been a constant from market to market. While weather-related events have hampered some of the necessary machinations of making home sales, buyers have shown determination toward achieving their homeownership goals. This week has shown some sales strain in many markets, but spring is just around the corner.

In the Twin Cities region, for the week ending February 16:

  • New Listings decreased 20.5% to 1,018
  • Pending Sales decreased 10.5% to 810
  • Inventory decreased 2.5% to 8,043

For the month of January:

  • Median Sales Price increased 6.1% to $259,000
  • Days on Market decreased 5.8% to 65
  • Percent of Original List Price Received increased 0.1% to 97.0%
  • Months Supply of Homes For Sale increased 13.3% to 1.7

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From The Skinny Blog.