Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending April 25, 2020
Publish Date: May 4, 2020 • All comparisons are to 2019

claims remain at a high level with over 4.4 million people filing for the first time in
the latest Department of Labor report. Weekly initial claims are likely to continue to
decrease in coming weeks while still remaining significantly elevated. Mortgage
rates have stabilized over the last few weeks at nearly three-quarters of a percent
lower than a year ago, while showing activity nationwide has increased 39% in the
last two weeks as agents and consumers are adapting to the new environment,
including using virtual showings in many cases.
In the Twin Cities region, for the week ending April 25:
• New Listings decreased 30.7% to 1,376
• Pending Sales decreased 24.3% to 1,071
• Inventory decreased 11.1% to 9,161
For the month of March:
• Median Sales Price increased 8.0% to $297,000
• Days on Market decreased 7.6% to 61
• Percent of Original List Price Received increased 0.6% to 99.2%
• Months Supply of Homes For Sale decreased 10.0% to 1.8