Weekly Housing Market Activity Report
For Week Ending May 12, 2018
Publish Date: May 21, 2018 • All comparisons are to 2017
buyer demand is creating competitive purchase offer situations that are increasing
the number of homes sold for more than the asking price. This practice is nothing
new in more popular areas, but higher offers are becoming normal outside of the
hottest cities and neighborhoods. Affordability is a challenge for some potential
buyers, yet prices still rise in an environment of economic confidence.
In the Twin Cities region, for the week ending May 12:
• New Listings decreased at 2,073
• Pending Sales decreased 5.5% to 1,466
• Inventory decreased 23.9% to 9,446
For the month of April:
• Median Sales Price increased 8.9% to $266,750
• Days on Market decreased 10.2% to 53
• Percent of Original List Price Received increased 0.7% to 99.8%
• Months Supply of Homes For Sale decreased 20.8% to 1.9