Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending November 26, 2022 Quick Facts
Publish Date: December 5, 2022 • All comparisons are to 2021

buyers making up 26% of all buyers for the fiscal year ending June 2022, while the
age of the typical first-time buyer increased to 36 years old, an all-time high,
according to the National Association of REALTORS® Profile of Home Buyers and
Sellers, which has been published since 1981. Higher borrowing costs and a lack of
affordable housing have forced many buyers out of the market this year, and
inflation and rising rents have made it more difficult to save up for a down payment.
In the Twin Cities region, for the week ending November 26:
• New Listings decreased 10.4% to 456
• Pending Sales decreased 39.8% to 515
• Inventory increased 12.3% to 8,205
For the month of October:
• Median Sales Price increased 4.6% to $355,500
• Days on Market increased 33.3% to 36
• Percent of Original List Price Received decreased 2.0% to 98.3%
• Months Supply of Homes For Sale increased 33.3% to 2.0