Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending December 31, 2022 Quick Facts
Publish Date: January 9, 2023 • All comparisons are to 2021

nationally as of last measure, marking the 10th consecutive month of slowing rent
growth, according to Realtor.com’s recent Rental Report. Among the 50 largest
metropolitan markets, the median asking rent declined $22 month-to-month to
$1,712 and was down $69 from July 2022’s peak of $1,781. Rents in Sun Belt
markets slowed at a faster rate than rents in the Midwest and in big metros such as
Boston, Chicago, and New York, which have seen stronger rental growth this year.
In the Twin Cities region, for the week ending December 31:
• New Listings decreased 22.7% to 331
• Pending Sales decreased 29.0% to 409
• Inventory increased 20.2% to 6,582
For the month of November:
• Median Sales Price increased 4.4% to $354,900
• Days on Market increased 33.3% to 40
• Percent of Original List Price Received decreased 2.6% to 97.2%
• Months Supply of Homes For Sale increased 50.0% to 1.8