Weekly Market Activity Report For Week Ending August 11, 2018

The U.S. housing market is becoming a tale of regions. Consumers in high-priced markets in the West are pushing back with fewer showings and sales. The Midwest is marked mostly by stability of new listings and sales with gently improving inventory. Many Northeast markets have routinely struggled to keep pace with the overall U.S. economic recovery. And the South is enjoying more showings and sales than the rest of the nation. Here's what's happening in the local market.

In the Twin Cities region, for the week ending August 11:
• New Listings increased 7.5% to 1,825
• Pending Sales decreased 2.5% to 1,242
• Inventory decreased 10.7% to 12,095

For the month of July:
• Median Sales Price increased 6.6% to $268,000
• Days on Market decreased 17.4% to 38
• Percent of Original List Price Received increased 0.7% to 99.8%
• Months Supply of Homes For Sale decreased 11.1% to 2.4

Publish Date: August 20, 2018 • All comparisons are to 2017. All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime