Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending July 27, 2019
Publish Date: August 5, 2019 • All comparisons are to 2018

that current trends in most real estate markets are likely to continue. Mid-to-lower
priced segments continue to experience imbalances favoring sellers, leading to
steady year-over-year increases in price, outpacing inflation in many markets.
Although the Fed rate decrease dominated the news this week, industry experts
seem to agree this event by itself is unlikely to have much effect on mortgage rates
and real estate markets, at least in the short term.
In the Twin Cities region, for the week ending July 27:
• New Listings decreased 4.7% to 1,736
• Pending Sales decreased 4.9% to 1,364
• Inventory decreased 3.0% to 12,236
For the month of June:
• Median Sales Price increased 7.2% to $290,000
• Days on Market increased 2.5% to 41
• Percent of Original List Price Received decreased 0.3% to 100.0%
• Months Supply of Homes For Sale increased 4.0% to 2.6