Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending June 12, 2021
Publish Date: June 21, 2021 • All comparisons are to 2020

May, exceeding pre-pandemic figures and putting rents at their highest level in two
years, according to realtor.com’s Monthly Rental Report. Meanwhile, after months
of record highs, lumber prices have finally begun falling, with futures for July
delivery down 41% since May’s record high, their biggest ever weekly loss,
Bloomberg reports. Still, demand for housing remains strong as ever, with mortgage
and refinance applications up from the previous week, according to the Mortgage
Bankers Association.
In the Twin Cities region, for the week ending June 12:
• New Listings increased 9.5% to 1,894
• Pending Sales increased 4.6% to 1,531
• Inventory decreased 42.4% to 6,109
For the month of April:
• Median Sales Price increased 16.6% to $343,750
• Days on Market decreased 41.5% to 24
• Percent of Original List Price Received increased 4.4% to 104.0%
• Months Supply of Homes For Sale decreased 54.5% to 1.0