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Weekly Market Activity Report For Week Ending January 4, 2020 Tags: Market DataMarket ResearchWeekly Market Activity Reports

With the start of the New Year, the real estate market turns more active across
most of the country. Sellers connect with agents, resulting in a pop of new listings,
followed by renewed interest by buyers, which leads to an increase in pending
sales. This pattern is seen every year and 2020 should be no different. We’re
starting off the year with continued low interest rates, low unemployment, and rising
rents nationally. This sets us up for a strong start to 2020 and plenty of optimism for
the coming spring market.

In the Twin Cities region, for the week ending January 4:

• New Listings decreased 17.9% to 683
• Pending Sales decreased 7.0% to 546
• Inventory decreased 12.8% to 8,064

For the month of November:

• Median Sales Price increased 5.6% to $279,900
• Days on Market decreased 1.9% to 51
• Percent of Original List Price Received increased 0.2% to 97.5%
• Months Supply of Homes For Sale decreased 4.5% to 2.1