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Lakeville Real Estate

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Weekly Market Report

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For Week Ending October 3, 2026

Newly pending sales fell 8.5% from a year earlier in September and 11.2% from August, according to Zillow’s September Market Report. Zillow’s count of closed sales was 319,346, down 2.5% from a year earlier and 5.6% from August. The typical U.S. home value was $366,913, up 1% from a year ago, while a typical mortgage payment of $1,922 was 6.7% higher than last year, assuming a 20% down payment and excluding taxes and insurance. With 1.39 million homes for sale, 2.5% more than a year ago, and price cuts on 27.4% of listings, buyers still in the market have more room to negotiate.

In the Twin Cities region, for the week ending October 3:

  • New Listings decreased 2.1% to 1,402
  • Pending Sales decreased 21.0% to 782
  • Inventory increased 13.1% to 12,636

For the month of August:

  • Median Sales Price increased 1.0% to $404,000
  • Days on Market increased 7.1% to 45
  • Percent of Original List Price Received decreased 0.6% to 98.2%
  • Months Supply of Homes For Sale increased 10.7% to 3.1

All comparisons are to 2025

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

Mortgage Rates Average 7.40%

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October 8, 2026

As market conditions continue to evolve, borrowers should remember that shopping around for a mortgage rate and getting multiple quotes can potentially save them thousands over the loan’s lifetime.

  • The 30-year fixed-rate mortgage averaged 7.40% as of October 8, 2026, up from last week when it averaged 7.28%. A year ago at this time, the 30-year FRM averaged 6.30%.
  • The 15-year fixed-rate mortgage averaged 6.73%, up from last week when it averaged 6.60%. A year ago at this time, the 15-year FRM averaged 5.53%.

Information provided by Freddie Mac.