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: Seller activity began to bounce back from the annual slump of Independence Day. The supply of new listings into the market was down 35.8 percent on average from 2019. Listings priced between $150-190K saw the most noticeable decrease in supply, down 67.0 percent on average, while listings in the higher price ranges were, for the most part, less impacted over the past two years. Overall showing activity was down 6.5 percent compared to two years ago. Listings between $250-300K held the largest share of showings. In 2019, listings below $200K held the largest share, which shows a continuing trend of buyer’s interest toward the median priced home, currently $350,000. Listings between $600-800K saw the greatest increase in showing activity, up 88.3 percent from 2019. Buyer activity overall has dipped relative to recent weeks, but anticipate a rebound as July continues. The question remains, will that return to traditional summer demand be able to match the strengths of last year? Last week’s demand from buyers was down 30.6 percent compared 2019. However, listings priced above $500K saw an average increase in demand. The 30-Year Fixed Rate Mortgage National Average dipped again to 2.9 percent in the past week.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, July 15, 2021 (2:00 PM to 3:00 PM).