Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending July 3, 2021 Quick Facts
Publish Date: July 12, 2021 • All comparisons are to 2020

January 2020, according to the Mortgage Bankers Association’s seasonally
adjusted index, with declines noted in both refinance and purchase applications.
Rising home prices and low inventory are responsible for the decline, even as
mortgage rates remain low, causing experts to speculate whether the roaring
housing market is finally cooling down.
In the Twin Cities region, for the week ending July 3:
• New Listings decreased 1.9% to 1,343
• Pending Sales increased 4.3% to 1,610
• Inventory decreased 33.5% to 6,906
For the month of April:
• Median Sales Price increased 16.6% to $344,000
• Days on Market decreased 41.5% to 24
• Percent of Original List Price Received increased 4.4% to 104.0%
• Months Supply of Homes For Sale decreased 50.0% to 1.1