Twin Cities Market Update – November 17, 2017

New tax legislation that could affect the housing market is still currently being discussed and debated by the U.S. Senate and House of Representatives, but it appears that important tools used by homeowners, like the mortgage interest deduction, are in line to continue in some capacity. This continuity would be useful for maintaining a positive outlook for residential real estate.

In the Twin Cities region, for the week ending November 4:
• New Listings decreased 8.7% to 1,017
• Pending Sales increased 0.8% to 1,076
• Inventory decreased 15.3% to 11,585

For the month of September:
• Median Sales Price increased 7.4% to $247,000
• Days on Market decreased 12.3% to 50
• Percent of Original List Price Received increased 0.6% to 98.1%
• Months Supply of Homes For Sale decreased 16.7% to 2.5

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