Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending September 18, 2021 Quick Facts

Publish Date: September 27, 2021 • All comparisons are to 2020

housing shortage, with realtor.com reporting the U.S. needs an additional 5.24
million homes to meet current population needs, an increase of 1.4 million homes
since 2019, as new-home construction has failed to keep up with household
formations. Assuming the rate of household formations continues, the average rate
of new home completions would need to triple over the next 5 – 6 years in order to
meet current demand.
In the Twin Cities region, for the week ending September 18:
• New Listings decreased 10.5% to 1,736
• Pending Sales decreased 18.1% to 1,289
• Inventory decreased 15.0% to 8,287
For the month of August:
• Median Sales Price increased 11.1% to $350,000
• Days on Market decreased 43.6% to 22
• Percent of Original List Price Received increased 2.1% to 102.4%
• Months Supply of Homes For Sale decreased 26.3% to 1.4