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New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 26, 2018
Residential real estate activity is in full swing across America. Some trends are persisting as they have week after week, month after month and now year after year. But some metrics are teasing a deviation from the norm. There may not be as many homes for sale as there were last year at this time, and home price increases are still more likely than not, but there is a chance that we could see more positive changes in either sales or new listings as the summer months progress.
In the Twin Cities region, for the week ending May 26:
- New Listings increased 5.5% to 1,817
- Pending Sales decreased 9.9% to 1,405
- Inventory decreased 19.4% to 10,322
For the month of April:
- Median Sales Price increased 8.8% to $266,500
- Days on Market decreased 10.2% to 53
- Percent of Original List Price Received increased 0.8% to 99.9%
- Months Supply of Inventory decreased 20.8% to 1.9
All comparisons are to 2017
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
April Monthly Skinny Video
New Listings and Pending Sales
Inventory
Weekly Market Report
For Week Ending May 19, 2018
According to the National Association of REALTORS®, existing home sales were down 2.5 percent for the nation as a whole in April. While local trends do not necessarily coincide with national trends, a holistic outlook can often explain the general state of feelings regarding residential real estate. Sales have been lower in year-over-year comparisons in the hottest submarkets due to low inventory and a speed to sale that is faster than the market can replenish itself.
In the Twin Cities region, for the week ending May 19:
- New Listings increased 8.9% to 2,279
- Pending Sales decreased 10.2% to 1,437
- Inventory decreased 22.6% to 9,768
For the month of April:
- Median Sales Price increased 9.0% to $267,000
- Days on Market decreased 10.2% to 53
- Percent of Original List Price Received increased 0.8% to 99.9%
- Months Supply of Inventory decreased 20.8% to 1.9
All comparisons are to 2017
Click here for the full Weekly Market Activity Report. From The Skinny Blog.
Existing Home Sales
Mortgage Rates Maintain Steady Climb
Mortgage rates moved up over the past week to 4.66 percent, their highest level since May 5, 2011 (4.71 percent). Mortgage rates so far in 2018 have had the most sustained increase to start the year in over 40 years. Through May, rates have risen in 15 out of the first 21 weeks (71 percent), which is the highest share since Freddie Mac began tracking this data for a full year in 1972.
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