Weekly Housing Market Activity Report for the Twin Cities

Weekly Housing Market Activity Report for the Twin Cities

For Week Ending October 5, 2019
Publish Date: October 14, 2019 • All comparisons are to 2018

With the 30-year fixed-rate mortgage approximately one percentage point lower
than a year ago according to Freddie Mac, buyers are actively taking advantage.
Home refinancing is also going strong and overall mortgage demand, which
includes purchase mortgages as well as refinancings, is up 50% from a year ago.
Lower mortgage rates help maintain housing affordability in the face of price
appreciation across much of the country.
In the Twin Cities region, for the week ending October 5:
• New Listings decreased 2.7% to 1,517
• Pending Sales increased 1.5% to 1,180
• Inventory decreased 3.4% to 12,597
For the month of August:
• Median Sales Price increased 7.1% to $286,900
• Days on Market increased 2.5% to 41
• Percent of Original List Price Received decreased 0.2% to 99.0%
• Months Supply of Homes For Sale remained flat at 2.6