Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending October 22, 2022 Quick Facts

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

put more effort into selling their home to get the best deal possible compared to
earlier in the pandemic, when conditions were different and a “For Sale” sign would
often fetch multiple offers. Trends have changed, and with home sales down
nationally, local REALTORS® are reporting a rise in price reductions, seller
concessions, and homebuying contingencies, with a growing number of sellers
needing to make repairs prior to sale.
In the Twin Cities region, for the week ending October 22:
• New Listings decreased 20.8% to 1,105
• Pending Sales decreased 34.2% to 827
• Inventory increased 4.6% to 9,059
For the month of September:
• Median Sales Price increased 6.3% to $362,100
• Days on Market increased 39.1% to 32
• Percent of Original List Price Received decreased 2.3% to 98.9%
• Months Supply of Homes For Sale increased 18.8% to 1.9