Monday, July 10, 2017

Weekly Market Activity Report For Week Ending July 1, 2017

Nationally and locally, economic conditions affecting residential real estate have not
changed much this year, which is good for market stability. The most recent jobs
report was favorable, while unemployment and mortgage rates both remain
satisfyingly reasonable. If there were more homes for sale, we might see a shift in
prices. Although builder and seller confidence are high, we are not close to a trend
change in that regard.

In the Twin Cities region, for the week ending July 1:
• New Listings decreased 0.1% to 1,587
• Pending Sales decreased 5.6% to 1,377
• Inventory decreased 16.5% to 12,628

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 Homes For Sale decreased 17.2% to 2.4

Publish Date: July 10, 2017 • All comparisons are to 2016
Information from MAAR

No comments: