Every year during the week of Independence Day, real estate markets across the country slow down as buyers, sellers and real estate professionals take some time off during the height of summer to spend time with friends and family. This year continued that tradition, except that new listings declined a little more and pending sales rose a little more. This is of particular interest because that is the exact dynamic that will keep prices on the rise.

In the Twin Cities region, for the week ending July 13:

• New Listings increased 0.5% to 2,227
• Pending Sales increased 0.3% to 1,470
• Inventory decreased 2.1% to 11,759

For the month of June:

• Median Sales Price increased 7.2% to $290,000
• Days on Market increased 2.5% to 41
• Percent of Original List Price Received decreased 0.3% to 100.0%
• Months Supply of Homes For Sale remained flat at 2.5

All comparisons are to 2018

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