Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending February 18, 2023
Publish Date: February 27, 2023 • All comparisons are to 2022

active listings up 65.5% compared to January 2022, according to Realtor.com’s
most recent Monthly Housing Report. Buyers have 248,000 more homes to choose
from compared to the same time last year, although the number of homes for sale is
still 43.2% lower than it was in 2017 – 2019, prior to the pandemic. Nationally,
homes are also spending more time on market compared to last year, giving
prospective buyers greater opportunities to make their home purchase goals a
reality.
In the Twin Cities region, for the week ending February 18:
• New Listings decreased 18.0% to 914
• Pending Sales decreased 23.1% to 698
• Inventory increased 13.9% to 5,667
For the month of January:
• Median Sales Price increased 2.7% to $342,000
• Days on Market increased 46.3% to 60
• Percent of Original List Price Received decreased 3.6% to 96.0%
• Months Supply of Homes For Sale increased 44.4% to 1.3