Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending July 31, 2021 Quick Facts
Publish Date: August 9, 2021 • All comparisons are to 2020

more than 3 decades, according to the National Association of REALTORS®. Cash
offers, bidding wars, and soaring home prices are making it increasingly difficult for
first-time buyers to compete in a market with record low inventory and declining
housing affordability, even as 30-year mortgage rates dropped below 3 percent for
the first time since February.
In the Twin Cities region, for the week ending July 31:
• New Listings decreased 1.6% to 1,832
• Pending Sales decreased 10.4% to 1,476
• Inventory decreased 25.9% to 7,427
For the month of June:
• Median Sales Price increased 14.8% to $350,000
• Days on Market decreased 52.4% to 20
• Percent of Original List Price Received increased 4.5% to 104.1%
• Months Supply of Homes For Sale decreased 42.9% to 1.2