Weekly Housing Market Activity Report for the Twin Cities​

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending November 27, 2021 Quick Facts
Publish Date: December 6, 2021 • All comparisons are to 2020

With showings, contract signings, and closed sales remaining strong throughout
fall, experts are expecting an especially busy housing market this winter, as buyers
rush to beat rising rental prices and anticipated increases in mortgage rates. Total
existing home sales will top 6 million in 2021, the highest level in 15 years,
according to the National Association of REALTORS®, who predicts home prices
will continue to increase in 2022, albeit at a gentler rate compared to the record setting pace of this year.
In the Twin Cities region, for the week ending November 27:
• New Listings decreased 15.8% to 496
• Pending Sales decreased 0.8% to 843
• Inventory decreased 15.7% to 6,714
For the month of October:
• Median Sales Price increased 7.9% to $340,000
• Days on Market decreased 22.9% to 27
• Percent of Original List Price Received decreased 0.2% to 100.3%
• Months Supply of Homes For Sale decreased 17.6% to 1.4