Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending June 27, 2020
Publish Date: July 6, 2020 • All comparisons are to 2019

Confidence Index Survey of more than 4,000 members that there were nearly three
offers for every home sold in May, which is up from a little more than two offers for
every sold home in the April survey. Buyer activity, seen in both showings and
Pending Sales, has been strong while seller activity, seen in New Listings, has
lagged a bit, suggesting that multiple offer situations continue to be common and
will likely remain so in the coming weeks.
In the Twin Cities region, for the week ending June 27:
• New Listings decreased 16.9% to 1,612
• Pending Sales increased 3.1% to 1,606
• Inventory decreased 25.0% to 9,705
For the month of May:
• Median Sales Price increased 3.5% to $294,900
• Days on Market decreased 8.9% to 41
• Percent of Original List Price Received decreased 0.4% to 99.6%
• Months Supply of Homes For Sale decreased 16.0% to 2.1