Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending October 1, 2022
Publish Date: October 10, 2022 • All comparisons are to 2021

recent data from Black Knight, as shifting market conditions have led many sellers
to lower their asking price. Nationally, median home prices fell by 0.98% from July
to August, marking the second consecutive month prices have declined. Although
home prices are down 2% from their peak in June, they remain up 12.1 %
compared to the same period last year.
In the Twin Cities region, for the week ending October 1:
• New Listings decreased 20.0% to 1,271
• Pending Sales decreased 36.5% to 895
• Inventory decreased 0.8% to 8,934
For the month of August:
• Median Sales Price increased 5.7% to $369,900
• Days on Market increased 22.7% to 27
• Percent of Original List Price Received decreased 2.4% to 99.9%
• Months Supply of Homes For Sale increased 20.0% to 1.8