Tuesday, February 21, 2017

Weekly Market Activity Report For Week Ending February 11, 2017

The total supply of homes for sale at this early juncture of 2017 coupled with the
relative low affordability of those homes have made the market interesting to watch.
The combination of broad personal financial situations is particularly pronounced
among millennials celebrating their prime home-buying years. While some
individuals may have a decent amount of money saved up for a home purchase,
others have educational debt, lowering their maximum affordability price. Being
aware of this situational variety will help both lenders and agents.

In the Twin Cities region, for the week ending February 11:

 • New Listings decreased 5.2% to 1,338
 • Pending Sales increased 1.1% to 859
 • Inventory decreased 23.3% to 8,583

For the month of January:

 • Median Sales Price increased 4.7% to $225,000
 • Days on Market decreased 7.1% to 79
 • Percent of Original List Price Received increased 0.9% to 95.9%
 • Months Supply of Homes For Sale decreased 26.1% to 1.7

Publish Date: February 20, 2017 • All comparisons are to 2016

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