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Weekly Market Activity Report for Week Ending April 30, 2022 Tags: Market DataWeekly Market Activity Reports

70% of metropolitan areas saw the median existing-home sales price rise by double digits annually in the first quarter of 2022, up from 66% of metro areas in the previous quarter, according to the National Association of REALTORS® (NAR) latest quarterly report. In 27 U.S. markets, buyers needed at least $100,000 annual income to afford a 10% down payment, with first time buyers typically spending 28.4% of monthly income on mortgage payments, exceeding the 25% threshold NAR considers unaffordable.

In the Twin Cities region, for the week ending April 30:

  • New Listings decreased 4.8% to 1,731
  • Pending Sales decreased 9.3% to 1,424
  • Inventory decreased 6.9% to 5,576

For the month of March:

  • Median Sales Price increased 7.8% to $354,077
  • Days on Market decreased 10.3% to 35
  • Percent of Original List Price Received increased 0.8% to 102.7%
  • Months Supply of Homes For Sale remained flat at 1.0