Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending February 26, 2022 Quick Facts
Publish Date: March 7, 2022 • All comparisons are to 2021

third consecutive month of declines according to the National Association of
REALTORS®. With housing supply at a record low, buyers are finding fewer and
fewer homes for sale, while rising mortgage rates and increased housing costs have
priced out marginal buyers. Inventory levels are expected to improve gradually as
the weather warms; in the meantime, economists say buyers should expect a
challenging spring market.
In the Twin Cities region, for the week ending February 26:
• New Listings decreased 12.7% to 1,104
• Pending Sales decreased 15.1% to 964
• Inventory decreased 16.9% to 4,469
For the month of January:
• Median Sales Price increased 10.6% to $333,000
• Days on Market decreased 2.4% to 41
• Percent of Original List Price Received increased 0.1% to 99.6%
• Months Supply of Homes For Sale decreased 20.0% to 0.8