Tuesday, December 11, 2018

Weekly Market Activity Report For Week Ending December 1, 2018

While recent stock market activity has displayed some heart-pounding drops and rallying rises, that volatility has not created the same tidal waves within residential real estate. Increasing home prices and mortgage rates have indeed created a sense of immediacy for some buyers and turned others away due to affordability concerns, but these decisions appear to be rooted in longer-term trends rather than the effects of a media headline or presidential tweet.

In the Twin Cities region, for the week ending December 1:
 • New Listings increased 7.0% to 877
 • Pending Sales decreased 9.0% to 904
 • Inventory increased 1.5% to 10,437

For the month of October:
 • Median Sales Price increased 8.6% to $265,000
 • Days on Market decreased 7.7% to 48
 • Percent of Original List Price Received increased 0.2% to 97.9%
 • Months Supply of Homes For Sale remained flat at 2.4

All data from NorthstarMLS. Provided by Minneapolis Area REALTORS®. Report © 2018 ShowingTime  Publish Date: December 10, 2018 • All comparisons are to 2017

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