Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending February 4, 2023 Quick Facts
Publish Date: February 13, 2023 • All comparisons are to 2022

mortgage averaging 6.09% the week ending 2/2/23, according to Freddie Mac.
Mortgage rates have declined steadily for the past 4 weeks and are now at their
lowest level since their peak in November, when rates hit 7.08%. The drop in rates
could save homebuyers hundreds of dollars on their monthly mortgage payments
and may provide a boost in home sales ahead of the spring selling season.
In the Twin Cities region, for the week ending February 4:
• New Listings decreased 28.9% to 762
• Pending Sales decreased 23.0% to 695
• Inventory increased 18.3% to 5,776
For the month of December:
• Median Sales Price increased 5.1% to $348,320
• 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