Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending October 10, 2020
Publish Date: October 19, 2020 • All comparisons are to 2019

data, the lot size of new construction homes is getting smaller. The median lot size
for single-family homes sold in 2019 was 8,177 square feet, or .188 acres, its
smallest on record. While lot sizes vary by region due to population density, the
availability of land, and local regulations, shrinking lot sizes is one way to help
partially offset the increasing costs of building a new home.
In the Twin Cities region, for the week ending October 10:
• New Listings increased 12.4% to 1,705
• Pending Sales increased 25.2% to 1,375
• Inventory decreased 30.2% to 9,091
For the month of September:
• Median Sales Price increased 10.8% to $310,000
• Days on Market decreased 15.9% to 37
• Percent of Original List Price Received increased 2.0% to 100.5%
• Months Supply of Homes For Sale decreased 33.3% to 1.8