For Week Ending July 22, 2017

Residential real estate activity has remained robust through the summer months so far. New listing and sales activity may not always land exactly where desired or expected from week to week, but it is clear by gradually increasing prices and ongoing low inventory that buyer demand has not weakened.

In the Twin Cities region, for the week ending July 22:

• New Listings increased 0.9% to 1,842
• Pending Sales decreased 6.3% to 1,297
• Inventory decreased 17.2% to 12,555

For the month of June:

• Median Sales Price increased 7.0% to $259,000
• Days on Market decreased 16.1% to 47
• Percent of Original List Price Received increased 0.8% to 99.5%
• Months Supply of Inventory decreased 13.3% to 2.6

All comparisons are to 2016

Click here for the full Weekly Market Activity Report. From The Skinny Blog.