Seller profit margins are up nationwide following three quarterly declines, according to ATTOM’s Q2 2023 U.S. Home Sales Report. Typical profit margins on medianpriced single-family and condo sales climbed to 47.7% in the second quarter of 2023, up from 43.9% the previous quarter, representing the first increase in a year. The rise in profit margins was boosted by recent growth in median single-family home and condo prices, which increased in more than 90% of the country in Q2, according to the report.
In the Twin Cities region, for the week ending August 12:
• New Listings decreased 7.4% to 1,398
• Pending Sales decreased 10.5% to 1,068
• Inventory decreased 14.4% to 8,065
For the month of July:
• Median Sales Price remained flat at $375,000
• Days on Market increased 31.8% to 29
• Percent of Original List Price Received decreased 0.7% to 100.8%
• Months Supply of Homes For Sale increased 10.5% to 2.1