Weekly Market Activity Report

Weekly Market Activity Report

For Week Ending June 25, 2016

Publish Date: July 5, 2016 • All comparisons are to 2015

As we know, declining inventory has been the central focus of real estate news throughout the first half of the year. The lack of options of homes for sale seems to be keeping many from selling and instead, staying and renovating. This, in turn, leads to a lack of starter homes for first-time buyers. Sales are still climbing ever upward, and low mortgage rates continue to aid affordability.

In the Twin Cities region, for the week ending June 25:

• New Listings increased 2.2% to 1,907

• Pending Sales decreased 6.0% to 1,336

• Inventory decreased 19.0% to 14,294

For the month of May:

• Median Sales Price increased 5.8% to $236,900

• Days on Market decreased 21.1% to 60

• Percent of Original List Price Received increased 1.1% to 98.6%

• Months Supply of Homes For Sale decreased 26.3% to 2.8

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