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: The Twin Cities housing market typically dips in activity with the Thanksgiving holiday. This week is no different. Showing activity dropped 33.3 percent overall, when comparing last week to 2019. While the more affordable price ranges are generally down in showing interest, listings priced above $300K have mixed results. Although homes below $200K saw the largest decrease, down 56.7 percent, this group holds the greatest share of showing activity at 20.2 percent. Homes priced around $250K have garnered the most interest throughout 2021. Buyer activity joined in on the seasonal dip, but not in relation to 2019 activity. Pending sales from last week are up 5.2 percent from 2019. Listings priced between $500-750K saw the most sales, up 93.5 percent. Seller activity declined as well, down 20.2 percent on average. Most surprising is the dramatic increase in supply for homes priced between $750K-1M. With only two homes on the market back in 2019 and 14 listed last week, this shows a 600 percent increase in supply for this price range. Apart form this anomaly, supply from new listings seems to track reliably with our reports from previous weeks. The 30-Year Fixed Rate Mortgage Average in the United States held around 3.1 percent last week.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, December 16, 2021 (2:00 PM to 3:00 PM).