Weekly Market Activity Report For Week Ending June 10, 2017

New buyers wanting to make their first home purchase are finding that they would
have to spend more of their monthly incomes in order to do so. Higher prices during
the busiest months of the selling season are giving some buyers pause, which is
partly due to low inventory and the slow-moving pace of new home construction. In
addition, some would-be sellers are staying put instead of trying to find a
replacement home in a competitive environment, which can further stall inventory
growth.

In the Twin Cities region, for the week ending June 10:
 • New Listings increased 2.3% to 2,102
 • Pending Sales decreased at 1,442
 • Inventory decreased 16.1% to 12,107

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: June 19, 2017 • All comparisons are to 2016
Information gathered from MAAR