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.
Licensed In Minnesota