Monday, January 13, 2020

Weekly Market Activity Report For Week Ending January 4, 2020

With the start of the New Year, the real estate market turns more active across most of the country. Sellers connect with agents, resulting in a pop of new listings, followed by renewed interest by buyers, which leads to an increase in pending sales. This pattern is seen every year and 2020 should be no different. We’re starting off the year with continued low interest rates, low unemployment, and rising rents nationally. This sets us up for a strong start to 2020 and plenty of optimism for the coming spring market.

In the Twin Cities region, for the week ending January 4:
• New Listings decreased 17.9% to 683
• Pending Sales decreased 7.0% to 546
• Inventory decreased 12.8% to 8,064

For the month of November:
• Median Sales Price increased 5.6% to $279,900
• Days on Market decreased 1.9% to 51
• Percent of Original List Price Received increased 0.2% to 97.5%
• Months Supply of Homes For Sale decreased 4.5% to 2.1

Minneapolis Area Assosiciation of Realtors

Publish Date: January 13, 2020 • All comparisons are to 2019 - All data from NorthstarMLS. Provided by Minneapolis Area REALTORS®. Report © 2020 ShowingTime

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