Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending May 21, 2022 Quick Facts

Publish Date: May 31, 2022 • All comparisons are to 2021

as of last measure, a 16.7% increase from the same time last year, according to
Realtor.com. Rental units are in short supply and demand remains high, with real
estate professionals reporting a surge in rental inquiries, applications, and showing
activity across the nation. Bidding wars are becoming increasingly common in many
rental home markets, causing some properties to rent for substantially over asking
price.
In the Twin Cities region, for the week ending May 21:
• New Listings increased 3.4% to 2,008
• Pending Sales decreased 8.7% to 1,490
• Inventory increased 2.9% to 6,626
For the month of April:
• Median Sales Price increased 10.0% to $370,000
• Days on Market decreased 9.7% to 28
• Percent of Original List Price Received increased 0.5% to 103.8%
• Months Supply of Homes For Sale remained flat at 1.1