Weekly Market Update:

As fall finally goes dim, winter emerges as the prevailing wind through the marketplace. While optimism serves as a white rose through this phase, moderate unemployment rates have given pause to overabundant optimism. All the same, the desire for homeownership remains high among those willing to absorb some risk while attracting enthusiasm. 

In the Twin Cities region, for the week ending November 8: 

• New Listings decreased 2.8% to 1,104 

• Pending Sales increased 2.0% to 826 

• Inventory increased 4.1% to 16,972 

For the month of October: 

• Median Sales Price increased 6.7% to $208,000

 • Days on Market decreased 4.0% to 72 

• Percent of Original List Price Received decreased 0.6% to 95.2% 

• Months Supply of Inventory increased 13.5% to 4.2

Source:  Minneapolis Area Association of Realtors