Weekly Market Activity Report For Week Ending June 24, 2017

We are now beyond two years of year-over-year declines in inventory, and it
doesn't look like the situation is going to change anytime soon. However, buyer
demand and home prices are still rising, and the number of distressed homes on
the market has fallen. It would be great to see more starter homes on the docket for
new construction during these next few busy building months to help those that are
looking to enter the market.

In the Twin Cities region, for the week ending June 24:
 • New Listings increased 1.2% to 1,928
 • Pending Sales decreased 1.1% to 1,405
 • Inventory decreased 16.3% to 12,481

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 3, 2017 • All comparisons are to 2016

Information gathered from MAAR