Weekly Housing Market Activity Report
For Week Ending December 30, 2017
Publish Date: January 8, 2018 • All comparisons are to 2016
shortage. Year-over-year inventory levels have been down in most markets for
several years now, and that trend is expected to persist in 2018. Even if there are
occasional increases in the number of homes for sale from week to week, home
supply is too low to achieve a balanced market. That said, consumers are most
definitely purchasing homes quickly and often above asking price. Demand is
strong, and there is plenty to feel optimistic about in 2018.
In the Twin Cities region, for the week ending December 30:
• New Listings decreased 37.7% to 243
• Pending Sales decreased 8.7% to 451
• Inventory decreased 24.6% to 7,712
For the month of November:
• Median Sales Price increased 6.5% to $245,000
• Days on Market decreased 11.1% to 56
• Percent of Original List Price Received increased 0.8% to 97.4%
• Months Supply of Homes For Sale decreased 21.7% to 1.8