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: As we approach year-end, the current showings trend is hovering between 2020 and 2019 levels. The most affordable listings were the scarcest, so that’s where showing activity declined the most. Although $1M+ homes made up just over 2.0 percent of all showing activity, showings in that category rose nearly 92.0 percent from 2019. Listings between $400-500K comprise 12.6 percent of showings, but that share has nearly doubled in two years. To the disappointment of frustrated buyers, the latest new listing trend doesn’t appear promising when it comes to new inventory—at least not yet. New listing activity is at the bottom of the pack compared to the last four years around this time. Sales (signed purchase agreements anyway) were below 2020 levels but slightly ahead of 2018 and 2019 levels. The biggest growth in new listings was in the $350-500K range which was also where pending sales grew the most (+59.3 percent vs. +61.0 percent). For the month of November as a whole, however, the $750K-1M range had the largest gain in both new listings and pending sales. The $1M+ luxury range had had the second largest jump in sales activity followed by $500-750K. Despite plenty of chatter and some highly anticipated Fed commentary, the 30-Year Fixed Rate Mortgage held steady at 3.12 percent.
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).