Newly pending sales fell 8.5% from a year earlier in September and 11.2% from August, according to Zillow’s September Market Report. Zillow’s count of closed sales was 319,346, down 2.5% from a year earlier and 5.6% from August. The typical U.S. home value was $366,913, up 1% from a year ago, while a typical mortgage payment of $1,922 was 6.7% higher than last year, assuming a 20% down payment and excluding taxes and insurance. With 1.39 million homes for sale, 2.5% more than a year ago, and price cuts on 27.4% of listings, buyers still in the market have more room to negotiate.

In the Twin Cities region, for the week ending October 3:

• New Listings decreased 2.1% to 1,402
• Pending Sales decreased 21.0% to 782
• Inventory increased 13.1% to 12,636

For the month of August:

• Median Sales Price increased 1.0% to $404,000
• Days on Market increased 7.1% to 45
• Percent of Original List Price Received decreased 0.6% to 98.2%
• Months Supply of Homes For Sale increased 10.7% to 3.1

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

The 30-year fixed-rate mortgage averaged 7.28% as of October 1, up from 7.03% a week earlier and 6.34% a year ago, according to Freddie Mac. The 15-year fixed rate mortgage averaged 6.60%, up from 6.42% the prior week. For active buyers, an updated payment estimate can show how the latest rate change affects their monthly principal-and-interest payment.

In the Twin Cities region, for the week ending September 26:

• New Listings increased 11.8% to 1,467
• Pending Sales decreased 14.9% to 748
• Inventory increased 11.0% to 12,460

For the month of August:

• Median Sales Price increased 1.0% to $404,000
• Days on Market increased 7.1% to 45
• Percent of Original List Price Received decreased 0.6% to 98.2%
• Months Supply of Homes For Sale increased 10.7% to 3.1

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.