For Week Ending August 4, 2018

Competitive buyers vying for a somewhat limited number of homes for sale have helped prices continue to climb, frequently over the asking price. The latest recorded national unemployment rate of 3.9 percent is historically low and has served as a general indicator of a strong economy. To give a better idea of how good the unemployment situation is right now, we were looking at a historically low rate of 4.3 percent last year at this time.

In the Twin Cities region, for the week ending August 4:

• New Listings increased 1.8% to 1,844
• Pending Sales decreased 10.7% to 1,269
• Inventory decreased 11.4% to 11,989

For the month of June:

• Median Sales Price increased 5.3% to $271,000
• Days on Market decreased 16.7% to 40
• Percent of Original List Price Received increased 0.8% to 100.3%
• Months Supply of Inventory decreased 11.1% to 2.4

All comparisons are to 2017

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