Real Estate
Weekly Housing Market Activity Report for the Twin Cities
Weekly Housing Market Activity Report for the Twin Cities
Weekly Housing Market Activity Report for the Twin Cities
For Week Ending February 15, 2020
Publish Date: February 24, 2020 • All comparisons are to 2019
According to the latest #REALTORS® Confidence Index Survey of more than 8,000
real estate respondents, one in four home sales faced a settlement delay in
December 2019. Seventy-one percent closed on time and four percent were
canceled altogether. The biggest reasons cited for a delayed closing were issues
related to financing (37%), appraisal issues (19%), and home
inspection/environmental issues (17%).
In the Twin Cities region, for the week ending February 15:
• New Listings increased 9.6% to 1,156
• Pending Sales increased 13.9% to 967
• Inventory decreased 14.8% to 7,692
For the month of January:
• Median Sales Price increased 4.2% to $270,000
• Days on Market increased 3.1% to 67
• Percent of Original List Price Received decreased 0.1% to 97.0%
• Months Supply of Homes For Sale decreased 11.1% to 1.6