Mighty Agent 2019-09-30 17:53:57

For Week Ending September 21, 2019

This week the National Association of REALTORSĀ® reported that nationally, August existing-home sales rose 2.6% from a year ago. Additionally, the Federal Reserve announced a rate cut for the second time in seven weeks, though this was widely expected and largely factored into mortgage rates already. A strong economy along with mortgage rates near their lows for the year continue to support healthy housing demand.

In the Twin Cities region, for the week ending September 21:

  • New Listings increased 7.6% to 1,676
  • Pending Sales decreased 2.4% to 1,158
  • Inventory decreased 4.4% to 12,628

For the month of August:

  • Median Sales Price increased 6.9% to $286,500
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.2% to 99.0%
  • Months Supply of Homes For Sale remained flat at 2.6

All comparisons are to 2018

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

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