Hello stats fans and data lovers near and far. These special weekly market updates put buyer and seller activity in context and capture any market shifts. They feature all the charts and data you’ve come to love, including showings by price point. Don’t forget to check out our regular Weekly Market Activity Report. Once you’ve logged in to Northstar, Infosparks is also an excellent resource for custom market research and data.
In the meantime, check out the latest showings numbers and market indicators compared to 2021.
Weekly insight: Last week’s seller activity in the Twin Cities metro area left much to be desired. Overall, the supply of new listings was down 27.7 percent from last year, and our trendlines indicate that this past week was under supplied compared to the past three years. Units priced between $150-190K were left with he greatest deficit in terms of supply, dropping 62.5 percent on average. Buyer activity also took a dip in performance when compared to last year. Demand from pending sales fell 18.0 percent overall. Most of the decline stems from the lagging demand in the more affordably priced units. Homes below $250K saw a 30.4 percent average decline in signed purchase agreements. Showing activity shows more positive signs for the market in certain price segments. Although the overall comparison to 2021 was a 15.3 percent drop, median priced homes saw increased interest. Listings priced between $300-400K grew in showing activity by 3.9 percent, while those priced between $600-800K grew by 15.5 percent on average. Keep an eye on the 30-Year Fixed Rate Mortgage Average in the United States. Last week interest rates jumped up to an average of 3.5 percent, an 11.3 percent increase from last month.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, January 20, 2022 (2:00 PM to 3:00 PM).