For Week Ending November 24, 2018

With each passing week, it is evident that residential real estate markets across the nation are poised to finish 2018 with positive energy and room for optimism. Even in an environment of rising home prices and mortgage rates, we are finding relative balance in city after city when looking specifically at year-over-year trends. While it’s true that sales and new listings are down compared to last year at this time for some price ranges and home types, it is not often by much.

In the Twin Cities region, for the week ending November 24:

• New Listings increased 16.7% to 525
• Pending Sales decreased 7.2% to 670
• Inventory increased 2.0% to 10,852

For the month of October:

• Median Sales Price increased 8.6% to $265,000
• Days on Market decreased 7.7% to 48
• Percent of Original List Price Received increased 0.2% to 97.9%
• Months Supply of Inventory remained flat at 2.4

All comparisons are to 2017

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