Twin Cities Market Update – January 4, 2019

The last few weeks of the year provide an opportunity for buyers, sellers and real estate practitioners alike to spend time with the family and friends that make owning a home that much more special. It also provides a time to plan for the potential for marginal increases in average household wages, median sales prices for homes, mortgage rates and total available homes for sale in 2019.

In the Twin Cities region, for the week ending December 22:
• New Listings increased 11.1% to 469
• Pending Sales decreased 7.4% to 680
• Inventory increased at 9,053

For the month of November:
• Median Sales Price increased 8.2% to $265,000
• Days on Market decreased 7.1% to 52
• Percent of Original List Price Received decreased 0.1% to 97.3%
• Months Supply of Homes For Sale increased 10.5% to 2.1

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