Twin Cities Market Update – August 18, 2017

As we reach into August, we’ll begin to see the volume of activity wane in anticipation of the school year. Although not every buyer or seller has children, it’s no secret that homeownership is a popular housing option for those with kids. In bulk, this has historically been enough of a factor for turning down the summer’s market heat before lower temperatures take hold.

In the Twin Cities region, for the week ending August 5:
• New Listings decreased 0.5% to 1,787
• Pending Sales decreased 3.6% to 1,285
• Inventory decreased 16.9% to 12,541

For the month of June:
• Median Sales Price increased 7.0% to $259,000
• Days on Market decreased 16.1% to 47
• Percent of Original List Price Received increased 0.8% to 99.5%
• Months Supply of Homes For Sale decreased 13.3% to 2.6

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