Tuesday, January 10, 2017

Weekly Market Activity Report For Week Ending December 31, 2016

At the outset of 2017, we are watching for upward movement in some of the same
areas that we were watching in 2016. Inventory remains a key metric, as continued
decreases may push out potential buyers, especially if mortgage rates continue to
increase. However, buying a home is still considered more affordable than renting in
two-thirds of the country according to the 2017 Rental Affordability Report by
ATTOM Data Solutions.

In the Twin Cities region, for the week ending December 31:

 • New Listings decreased 7.5% to 384
 • Pending Sales decreased 14.9% to 474
 • Inventory decreased 24.9% to 9,049

For the month of December:

 • Median Sales Price increased 4.1% to $228,500
 • Days on Market decreased 10.1% to 71
 • Percent of Original List Price Received increased 0.6% to 96.0%
 • Months Supply of Homes For Sale decreased 30.4% to 1.6

Publish Date: January 9, 2017 • All comparisons are to 2015

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