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 showing activity in the Twin Cities metro area was 14.8 percent down from 2021. However, when broken down by price ranges, the middle-market saw increased showings compared to last year. Most notably, homes priced between $400-500K grew interest by 22.0 percent. Seller activity remains sluggish compared to a year prior, down 22.2 percent overall. Surprisingly, this is not the case for the most affordable price ranges we measure. Homes below $150K saw an average increase in supply from new listings last week. Particularly the sub-$120K listings which saw a 9.1 percent rise. Supply for the metro’s median priced home – about $340K – fell by an average of 28.3 percent. Buyer activity was down for most of the market last week, losing an average of 20.8 percent in pending sales from the same week a year prior. Price segments are down in all but the luxury market. The $1 Million and above market grew buyer interest by 90.9 percent. The Twin Cities 2021 annual market report publishes today through a joint press release between MAR and SPAAR. Keep an eye out on the association website for that full report. The 30-Year Fixed Rate Mortgage in the United States averaged 3.6 last week, a consistent increase from December.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, February 17, 2022 (2:00 PM to 3:00 PM).