Weekly Market Activity Report For Week Ending January 28, 2017

While the winter months that lead us through the holiday season and to the end of
December are typically a slower time for the housing market, the beginning of each
new year tends to bring a renewed interest in moving or buying. The annual January
resolution effect is in full swing so far in 2017. Prices are increasing, purchase
agreements are being signed, and despite record inventory lows, demand remains
strong.

In the Twin Cities region, for the week ending January 28:
• New Listings decreased 3.0% to 994
• Pending Sales decreased 9.5% to 777
• Inventory decreased 24.2% to 8,427

For the month of December:
• Median Sales Price increased 3.9% to $228,000
• 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 26.1% to 1.7

Publish Date: February 6, 2017 • All comparisons are to 2016