Twin Cities Market Update – December 14, 2018

While recent stock market activity has displayed some heart-pounding drops and rallying rises, that volatility has not created the same tidal waves within residential real estate. Increasing home prices and mortgage rates have indeed created a sense of immediacy for some buyers and turned others away due to affordability concerns, but these decisions appear to be rooted in longer-term trends rather than the effects of a media headline or presidential tweet.

In the Twin Cities region, for the week ending December 1:
• New Listings increased 7.0% to 877
• Pending Sales decreased 9.0% to 904
• Inventory increased 1.5% to 10,437

For the month of October:
• Median Sales Price increased 8.6% to $265,000
• Days on Market decreased 7.7% to 48
• Percent of Original List Price Received increased 0.2% to 97.9%
• Months Supply of Homes For Sale remained flat at 2.4

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