For Week Ending October 26, 2019

A new Census report this week announced that new construction home sales nationwide decreased slightly to a seasonally adjusted rate of 701,000 units, which is 15.5% higher than a year ago. Also in the announcement was news that the median sales price of new construction homes declined to $299,440 nationally, down 8% from a year ago. This decline was due to an increase in the availability of new homes at lower price points and is a welcomed change in what has been an underserved segment of the market.

In the Twin Cities region, for the week ending October 26:

  • New Listings decreased 0.4% to 1,239
  • Pending Sales increased 9.1% to 1,094
  • Inventory decreased 4.9% to 12,212

For the month of September:

  • Median Sales Price increased 6.8% to $279,700
  • Days on Market increased 2.4% to 43
  • Percent of Original List Price Received increased 0.1% to 98.5%
  • Months Supply of Homes For Sale decreased 3.7% to 2.6

All comparisons are to 2018

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

Weekly Market Report

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