For Week Ending September 23, 2017

Last year’s national chorus was about how high buyer demand, a sunny economic outlook and enticingly low mortgage rates were propping up sales and prices in spite of low inventory. That refrain is still common enough, but regional changes continue to become more pronounced, whether due to weather, differing employment expectations or varying new construction outlooks. Let’s look at how our unique local market is performing.

In the Twin Cities region, for the week ending September 23:

• New Listings increased 1.7% to 1,465
• Pending Sales decreased 1.5% to 1,081
• Inventory decreased 16.5% to 12,740

For the month of August:

• Median Sales Price increased 6.8% to $252,000
• Days on Market decreased 14.3% to 48
• Percent of Original List Price Received increased 0.6% to 98.5%
• Months Supply of Inventory decreased 16.7% to 2.5

All comparisons are to 2016

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