Weekly Market Activity Report

For Week Ending February 17, 2018

The trends from the last several weeks and, honestly, the last several months
remain in place in much of the country as well as locally. The market is trying to
sustain a healthy number of listings to keep pace with a consumer base that is
clearly in a buying mood. There is real evidence of increased showing activity and
anecdotal evidence from busy real estate professionals that we are setting up for
another busy year in residential real estate.

In the Twin Cities region, for the week ending February 17:

  • New Listings decreased 6.1% to 1,277
  • Pending Sales decreased 14.9% to 887
  • Inventory decreased 23.8% to 7,420

For the month of January:

  • Median Sales Price increased 9.4% to $243,500
  • Days on Market decreased 13.8% to 69
  • Percent of Original List Price Received increased 1.0% to 96.9%
  • Months Supply of Homes For Sale decreased 22.2% to 1.4
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.