News
Weekly Market Activity Report for Week Ending May
June 1, 2020
Mortgage rates have now been below 3.30 percent for four consecutive weeks, according to the latest update from Freddie Mac. These near-record low rates have been a catalyst for the recovering buyer activity in the housing market while sellers continue to maintain a little more cautious approach.
In the Twin Cities region, for the week ending May 23:
• New Listings decreased 11.7% to 1,668
• Pending Sales decreased 11.0% to 1,453
• Inventory decreased 17.1% to 9,764
For the month of April:
• Median Sales Price increased 8.9% to $305,000
• Days on Market decreased 17.5% to 47
• Percent of Original List Price Received increased 0.5% to 99.9%
• Months Supply of Homes For Sale decreased 9.1% to 2.0