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 2019.
Weekly insight: Last week’s seller activity fell 4.0 percent on average in relation to a comparable week in 2019. Although new listings in the more affordable price ranges decreased significantly, homes priced between $750K-$1M showed increased supply by 46.4 percent. Buyer activity rose 4.4 percent with respect to our pre-pandemic reference week. Listings below $250K saw decreased interest while listings above this threshold grew on average. In particular, luxury homes (priced above $1 Million) saw a 166.7 percent increase in average pending sales; a jump in sales from 6 luxury homes in a week to 16 homes in the same timeframe. Showing activity from last week outperformed the past two years, up 9.0 percent from 2019. Broken down by price, there were double digit gains in pending sales for listings priced above $300K, on average. The 30-Year Fixed Rate Mortgage Average in the United States dipped slightly to just below 3.1 percent for the past week.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, November 18, 2021 (2:00 PM to 3:00 PM).