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Lakeville Real Estate

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Weekly Market Report

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For Week Ending August 29, 2026

Mortgage rates edged higher this week, with the 30-year fixed-rate mortgage averaging 6.71% as of September 3, according to Freddie Mac. This is up from 6.66% the prior week and 6.50% a year ago. Purchase demand has remained relatively stable, indicating steady interest from buyers adapting to evolving market conditions despite rates hovering near multi-year highs.

In the Twin Cities region, for the week ending August 29:

  • New Listings increased 15.9% to 1,391
  • Pending Sales decreased 5.6% to 908
  • Inventory increased 9.6% to 11,947

For the month of July:

  • Median Sales Price increased 3.3% to $408,000
  • Days on Market remained flat at 40
  • Percent of Original List Price Received decreased 0.2% to 99.1%
  • Months Supply of Homes For Sale increased 7.1% to 3.0

All comparisons are to 2025

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

Mortgage Rates Average 6.71%

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September 3, 2026

The 30-year fixed-rate mortgage averaged 6.71% this week. Purchase demand has remained relatively stable indicating steady interest from buyers adapting to evolving market conditions.

  • The 30-year fixed-rate mortgage averaged 6.71% as of September 3, 2026, up from last week when it averaged 6.66%. A year ago at this time, the 30-year FRM averaged 6.50%.
  • The 15-year fixed-rate mortgage averaged 6.04%, up from last week when it averaged 5.98%. A year ago at this time, the 15-year FRM averaged 5.60%.

Information provided by Freddie Mac.