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: Overall, weekly market trends are following patterns from 2019 more closely than those of 2020, which is why we will compare last week’s metrics to a similar week from two years prior. Showing activity dropped 8.0 percent overall, but the same cannot be said for showing interest in all price ranges. On average, listings above $300K saw increased showing activity compared to late July of 2019. Seller activity continued to lag behind supply from pre-COVID years, last week was down 21.8 percent overall. Not all price ranges are feeling the same shortages, however. In particular, homes listed between $500-750K saw a 27.5 percent increase in supply of new listings compared to 2019 while listings priced above this category also saw increased supply on average. Buyer activity, which was regularly skyrocketing in the first half of this year, has since waned to follow a more stable pattern of demand. Overall pending sales are level with two years prior, but a price breakdown shows noticeable changes in demand by price range. Listings below $250K saw decreased demand, down at least 29.7 percent, while homes priced above $350K saw increased demand, up at least 44.8 percent or greater. The 30-Year Fixed Rate Mortgage Average in the United States remained at 2.8 percent over last week.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, August 19, 2021 (2:00 PM to 3:00 PM).