With home prices on the rise, down payments continue to grow nationwide. According to Realtor®.com, buyers paid an average of 14.4% of the purchase price, or $30,250, in the fourth quarter of 2024, a new Q4 record. Overall, 2024 saw the highest down payments since tracking began in 2013, both as a share of the purchase price and as a dollar amount.
In the Twin Cities region, for the week ending May 10:
- New Listings increased 2.1% to 1,629
- Pending Sales increased 1.7% to 1,054
- Inventory increased 3.9% to 8,743
For the Month of April:
- Median Sales Price increased 3.7% to $399,900
- Days on Market increased 8.7% to 50
- Percent of Original List Price Received decreased 0.2% to 99.7%
- Months Supply of Homes For Sale increased 4.5% to 2.3