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: Showing activity from last week dipped, as anticipated, due to the Memorial Day weekend. Overall, showing activity for the year has only failed to surpass the week by week performance of 2019 on two occasions, Memorial Day weekend and Easter weekend. Even so, listings in particular price ranges managed to beat 2019 comparisons, namely listings between $300-600K. Showings increased most for listings above $800K, but keep in mind that the luxury market has the benefit of a small inventory. Seller activity also took its expected seasonal dip, with fewer people listing their homes due to the holiday. Overall, the Twin Cities housing supply was still below pre-COVID performance, down 47.1 percent on average for the past week. Supply of new listings changed least between $750K-$1M, down 5.8 percent, while listings below $120K were hit the hardest, down 70.4 percent. Buyer activity overall slowed compared to recent weeks, but remains 14.9 percent above 2019 activity. Demand from pending sales is up in listings above $250K and down in listings below that threshold. The 30-Year Fixed Rate Mortgage averaged just below 3.0 percent this past week.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, June 17, 2021 (2:00 PM to 3:00 PM).