Weekly Market Activity Report For Week Ending May 13, 2017

The residential real estate story continues to revolve around the low supply of
homes for sale, thus a surge in new homes being built would be a great thing to
see. Existing home sale are at all-time highs in some areas; however, home builders
have not been able to keep up with demand for new inventory replenishment. It will
be interesting to see if this will improve after national manufacturing production had
a large increase last month.

In the Twin Cities region, for the week ending May 13:
 • New Listings decreased 4.1% to 2,034
 • Pending Sales decreased 9.8% to 1,465
 • Inventory decreased 17.8% to 11,464

For the month of April:
 • Median Sales Price increased 6.5% to $246,000
 • Days on Market decreased 20.5% to 58
 • Percent of Original List Price Received increased 1.2% to 99.2%
 • Months Supply of Homes For Sale decreased 21.4% to 2.2

Publish Date: May 22, 2017 • All comparisons are to 2016
Information from MAAR