MAR has suspended in-person classes, meetings and events through June 30, 2020. Current MAR office hours: VIRTUAL (phone, email) 8:00 a.m. – 4:30 p.m. Monday – Friday, PHYSICAL (in-person) 9:00 a.m. – 1:00 p.m. Thursdays only.
Weekly Market Activity Report for Week Ending April 25 Tags: Market DataWeekly Market Activity Reports

While the initial unemployment insurance claims number was down from last week, claims remain at a high level with over 4.4 million people filing for the first time in the latest Department of Labor report. Weekly initial claims are likely to continue to decrease in coming weeks while still remaining significantly elevated. Mortgage rates have stabilized over the last few weeks at nearly three-quarters of a percent lower than a year ago, while showing activity nationwide has increased 39% in the last two weeks as agents and consumers are adapting to the new environment, including using virtual showings in many cases.

In the Twin Cities region, for the week ending April 25:

• New Listings decreased 30.7% to 1,376
• Pending Sales decreased 24.3% to 1,071
• Inventory decreased 11.1% to 9,161

For the month of March:

• Median Sales Price increased 8.0% to $297,000
• Days on Market decreased 7.6% to 61
• Percent of Original List Price Received increased 0.6% to 99.2%
• Months Supply of Homes For Sale decreased 10.0% to 1.8