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: Buyer activity in the Twin Cities metro area trended closer to pre-pandemic activity from 2019 than the hyper-active demand seen in 2021. Average pending sales fell 23.5 percent last week compared to the same week a year prior. Broken-down by price segments, sales were down across the board, most notably for homes priced between $750k-1M which decreased by 42.4 percent on average. Seller activity remained level for the past few weeks where previous years normally began to increase supply by this time in the year. Overall supply was down 25.7 percent. The more affordably priced homes saw the most significant decline in new listings, a drop of 45.8 percent for homes priced under $120K. A silver lining from last week was that showing activity increased for the upper end of the housing market. Although overall showings were down 9.7 percent, the upper half of the market saw double-digit increases in buyer interest, most notably a 39.2 percent bump for homes priced between $600-800K. The 30-Year Fixed Rate Mortgage in the United States averaged 3.6 percent once again last week.
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).