Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending October 17, 2020 Quick Facts
Publish Date: October 26, 2020 • All comparisons are to 2019

National Association of REALTORS® reported that their preliminary figures for
August show the median sales price of existing single-family homes nationwide
rose to $315,000, up $33,100 from a year ago. While mortgage rates have declined
in the last year, the increase in home prices has largely erased the benefit of those
lower rates.
In the Twin Cities region, for the week ending October 17:
• New Listings increased 15.3% to 1,533
• Pending Sales increased 21.1% to 1,441
• Inventory decreased 29.8% to 9,125
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