Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending January 14, 2023 Quick Facts

Publish Date: January 23, 2023 • All comparisons are to 2022

nationwide in Q4 2022 due in part to elevated interest rates. According to ATTOM’s
Q4 2022 U.S. Home Affordability Report, median priced single-family homes and
condos were less affordable compared to historical averages in 99% of counties
nationwide, an increase from Q4 2021, when 68% of counties were less affordable.
The portion of wages needed for homeownership costs also increased, with
homeownership costs now requiring 32.3% of the average national wage, a 15-year
high.
In the Twin Cities region, for the week ending January 14:
• New Listings decreased 5.6% to 772
• Pending Sales decreased 25.6% to 549
• Inventory increased 21.3% to 6,111
For the month of December:
• Median Sales Price increased 4.9% to $347,900
• Days on Market increased 47.1% to 50
• Percent of Original List Price Received decreased 3.2% to 96.3%
• Months Supply of Homes For Sale increased 55.6% to 1.4