Jeff Machacek

Blog

For Week Ending May 22, 2021

A new analysis from Realtor.com® found that 20% of home sales nationwide in the first two months of this year were purchased in cash, up about 5% from a year ago. The substantial increase in cash buyers can be partially attributed to the competitiveness of the housing market, where a cash offer can help a buyer’s offer stand out from competing offers. Meanwhile, for buyers that do need to finance their purchase, mortgage rates on a 30-year fixed-rate mortgage averaged just 3% last week.

In the Twin Cities region, for the week ending May 22:

  • New Listings increased 1.1% to 1,818
  • Pending Sales increased 7.5% to 1,625
  • Inventory decreased 45.1% to 5,838

For the month of April:

  • Median Sales Price increased 10.4% to $336,845
  • Days on Market decreased 34.0% to 31
  • Percent of Original List Price Received increased 3.4% to 103.3%
  • Months Supply of Homes For Sale decreased 52.4% to 1.0

All comparisons are to 2020

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Chart showing the average number of days houses have been on the market group by prices ranges
Average Days on the Market in 5 price ranges
For Week Ending August 31, 2019

Recent mortgage rate declines may provide a small tailwind as we enter the fall housing market, giving buyers a bit more buying power and a little more incentive to lock in a home purchase. However, stock market volatility and concern of a wider economic slowdown in the coming year may temper some buyer enthusiasm. But as rents continue to rise, the value proposition of owning a home remains a compelling option and a goal of most Americans.

In the Twin Cities region, for the week ending August 31:

  • New Listings increased 4.9% to 1,359
  • Pending Sales decreased 3.1% to 1,250
  • Inventory decreased 4.4% to 12,498

For the month of July:

  • Median Sales Price increased 5.9% to $283,900
  • Days on Market remained flat at 38
  • Percent of Original List Price Received decreased 0.1% to 99.7%
  • Months Supply of Homes For Sale remained flat at 2.5

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending August 3, 2019

While financial markets are becoming more volatile in recent weeks, national and regional real estate indicators are sending mixed signals. For the first time in seventeen months, July pending sales saw moderate gains over the previous year nationally. At the same time, home prices continue to be at or near record levels in many markets as supply remains limited.

In the Twin Cities region, for the week ending August 3:

  • New Listings increased 7.1% to 1,984
  • Pending Sales decreased 1.0% to 1,341
  • Inventory decreased 3.8% to 12,152

For the month of June:

  • Median Sales Price increased 7.2% to $290,000
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.3% to 100.0%
  • Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

For Week Ending July 27, 2019

As we await July results, the June numbers and preliminary July indicators suggest that current trends in most real estate markets are likely to continue. Mid-to-lower priced segments continue to experience imbalances favoring sellers, leading to steady year-over-year increases in price, outpacing inflation in many markets. Although the Fed rate decrease dominated the news this week, industry experts seem to agree this event by itself is unlikely to have much effect on mortgage rates and real estate markets, at least in the short term.

In the Twin Cities region, for the week ending July 27:

  • New Listings decreased 4.7% to 1,736
  • Pending Sales decreased 4.9% to 1,364
  • Inventory decreased 3.0% to 12,236

For the month of June:

  • Median Sales Price increased 7.2% to $290,000
  • Days on Market increased 2.5% to 41
  • Percent of Original List Price Received decreased 0.3% to 100.0%
  • Months Supply of Homes For Sale increased 4.0% to 2.6

All comparisons are to 2018

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.