Market Activity Report

For Week Ending July 14, 2018
National indicators do not necessarily predict the local economy, but the national
trends can be a reliable gauge for what is happening with local residential real
estate. Case in point, the U.S. Bureau of Labor Statistics recently reported that
unemployment is relatively unchanged since last month. Meanwhile, a national
statistics release about housing starts indicates that housing starts are lower
nationwide, even as consumer spending on home goods purchases and
renovations are up.

In the Twin Cities region, for the week ending July 14 (All comparisons are to 2017):

  • New Listings increased 11.4% to 2,209
  • Pending Sales decreased 2.7% to 1,417
  • Inventory decreased 14.4% to 11,384

For the month of June:

  • Median Sales Price increased 5.2% to $270,750
  • Days on Market decreased 16.7% to 40
  • Percent of Original List Price Received increased 0.8% to 100.3%
  • Months Supply of Homes For Sale decreased 11.1% to 2.4
* All data from NorthstarMLS. Provided by the Minneapolis Area Association of REALTORS®. Report © 2018 ShowingTime.