Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending March 12, 2022 Quick Facts
Publish Date: March 21, 2022 • All comparisons are to 2021

the average 30-year fixed-rate mortgage jumped to 4.27% for the week ending
March 11, the highest level since May 2019, according to the Mortgage Bankers
Association. Mortgage rates are now a full percentage point higher than this time
last year and continue to impact mortgage demand, in particular refinance
applications, which were down 49% compared to the same week one year ago.
In the Twin Cities region, for the week ending March 12:
• New Listings decreased 10.1% to 1,313
• Pending Sales decreased 6.5% to 1,174
• Inventory decreased 14.0% to 4,671
For the month of February:
• Median Sales Price increased 8.3% to $340,000
• Days on Market decreased 8.7% to 42
• Percent of Original List Price Received increased 0.7% to 100.8%
• Months Supply of Homes For Sale decreased 20.0% to 0.8