Twin Cities Market Update – January 5, 2017

As is usually the case this time of year, housing activity will slow down for a few weeks during the last of the 2017 holidays. Shrewd buyers and sellers will take advantage of this slower time of year to make meaningful deals, especially ahead of perceived or real changes that are due to take place in 2018 as regards taxes, mortgage rates, housing affordability and other factors.

In the Twin Cities region, for the week ending December 23:
• New Listings increased 14.4% to 422
• Pending Sales increased 8.0% to 702
• Inventory decreased 23.8% to 8,120

For the month of November:
• Median Sales Price increased 6.5% to $245,000
• Days on Market decreased 11.1% to 56
• Percent of Original List Price Received increased 0.8% to 97.4%
• Months Supply of Homes For Sale decreased 21.7% to 1.8

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