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 in the Twin Cities Metro Area increased by 17.2 percent when comparing last week’s performance to 2019. Showings at most price points grew, save for those below $250K which saw decreased interest from potential buyers. This trend in showings mimics buyer activity in the metro area, which saw modest growth as well, up 6.0 percent on average. Listings above $350K saw significant increases in purchase agreements, while homes below $250K saw noticeable drops in demand. Diminishing demand in these more affordable price ranges are due in part to the lack of affordable inventory. While the metro saw a 4.5 percent increase over all of last week, the availability of homes below $250K dropped by double digits in all four price points measured in our report. Meanwhile, supply of new listings increased in all price ranges above $250K, most notably the 52.5 percent increase in homes between $500-750K. The 30-Year Fixed Rate Mortgage Average in the United States averaged 2.9 percent last week.
Join MAR for a free monthly presentation and discussion on the Twin Cities real estate market Thursday, September 16, 2021 (2:00 PM to 3:00 PM).