Weekly Market Report

For Week Ending June 17, 2017

As Millennials get older and more established in their careers, more of them are
entering the housing market. Nationwide sales rose to the third-highest level since
the housing crisis a decade ago, while home prices also hit record highs. Although
increasing prices may push some out of the running for a home purchase, mortgage
rates remain low enough to lure potential buyers.

In the Twin Cities region, for the week ending June 17:

  • New Listings decreased 6.6% to 1,840
  • Pending Sales decreased 4.8% to 1,396
  • Inventory decreased 16.2% to 12,316

For the month of May:

  • Median Sales Price increased 5.5% to $250,000
  • Days on Market decreased 15.0% to 51
  • Percent of Original List Price Received increased 0.9% to 99.5%
  • Months Supply of Inventory decreased 17.2% to 2.4

All comparisons are to 2016

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

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