Nationally, the median down payment was $26,400, or 13.6% of the purchase price, in the first quarter of 2024, according to a recent study from Realtor®.com, a slight decrease from the previous quarter, when the median down payment was $30,400 (14.7%). Down payments are up significantly from pre-pandemic levels: in the first quarter of 2020, the typical down payment was approximately $14,000, or 10.7% of the purchase price.
In the Twin Cities region, for the week ending June 29:
• New Listings increased 8.2% to 1,358
• Pending Sales decreased 12.0% to 1,061
• Inventory increased 12.2% to 9,116
For the month of May:
• Median Sales Price increased 4.1% to $385,000
• Days on Market increased 7.9% to 41
• Percent of Original List Price Received decreased 1.1% to 100.0%
• Months Supply of Homes For Sale increased 26.3% to 2.4