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Weekly Market Report

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For Week Ending December 28, 2024

The typical homeowner has accumulated $147,000 in housing wealth over the last five years, according to a study by the National Association of REALTORS®. 87% of metropolitan markets (196 out of 226 tracked areas) reported home price gains in the third quarter of 2024, while 7% of markets experienced double-digit price appreciation annually.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 28:

  • New Listings decreased 14.1% to 328
  • Pending Sales increased 2.6% to 427
  • Inventory decreased 0.2% to 7,435

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 3.4% to $375,000
  • Days on Market increased 25.0% to 50
  • Percent of Original List Price Received increased 0.2% to 97.6%
  • Months Supply of Homes For Sale increased 4.3% to 2.4

All comparisons are to 2023

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

Mortgage Rates Reach Highest Point Since July

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January 2, 2024
Inching up to just shy of seven percent, mortgage rates reached their highest point in nearly six months. Compared to this time last year, rates are elevated and the market’s affordability headwinds persist. However, buyers appear to be more inclined to get off the sidelines as pending home sales rise.

Information provided by Freddie Mac.

Weekly Market Report

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For Week Ending December 21, 2024

New-home purchases accounted for 15% of home sales over the past year, the
highest share since 2007, while existing-home purchases accounted for 85%,
according to a recent report from the National Association of REALTORS®. Among
new-home buyers, 42% were most often looking to avoid renovations and
problems with mechanical systems, while 31% of existing-home buyers felt
previously owned homes represented a better overall value.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 21:

  • New Listings decreased 1.0% to 477
  • Pending Sales increased 3.1% to 605
  • Inventory increased at 7,832

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 3.4% to $375,000
  • Days on Market increased 25.0% to 50
  • Percent of Original List Price Received increased 0.2% to 97.6%
  • Months Supply of Homes For Sale remained flat at 2.3

All comparisons are to 2023

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