Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending August 8, 2020
Publish Date: August 17, 2020 • All comparisons are to 2019

As the major stock market indexes continue to be at or near record highs, we find
the housing market in high demand as well. Mortgage rates are still at or near
record lows and home buyer activity remains strong. While uncertainty remains on
what effects the upcoming elections and any seasonal resurgence of COVID-19
may have on the financial and housing market, healthy housing demand
fundamentals today will create significant tailwinds in the near term.
In the Twin Cities region, for the week ending August 8:
• New Listings increased 0.5% to 1,839
• Pending Sales increased 19.1% to 1,663
• Inventory decreased 29.4% to 9,291
For the month of July:
• Median Sales Price increased 10.6% to $313,000
• Days on Market increased 7.9% to 41
• Percent of Original List Price Received increased 0.5% to 100.1%
• Months Supply of Homes For Sale decreased 29.6% to 1.9