Weekly Housing Market Activity Report
For Week Ending June 23, 2018
Publish Date: July 2, 2018 • All comparisons are to 2017
The first half of the year in residential real estate fared as expected, with the most
obvious markers continuing to be low inventory and higher prices. We are also
seeing decreased affordability in many markets coupled with more urgency (lower
days on market) and increased purchase offers (higher pending sales) ahead of
perceived future rate increases that have not yet materialized in the wake of the
0.25 percent increase in the federal funds rate. All of this makes for a busy summer.
Let's examine the local market.
In the Twin Cities region, for the week ending June 23:
• New Listings increased 1.3% to 1,987
• Pending Sales decreased 3.7% to 1,437
• Inventory decreased 16.8% to 11,171
For the month of May:
• Median Sales Price increased 8.4% to $271,000
• Days on Market decreased 9.6% to 47
• Percent of Original List Price Received increased 0.7% to 100.2%
• Months Supply of Homes For Sale decreased 12.0% to 2.2