For Week Ending February 28, 2026

The average 30-year fixed mortgage rate fell to 5.98% for the week ending February 26, 2026, marking the first time in 3½ years that rates have dropped below 6%, according to Freddie Mac. While falling rates are welcome news for prospective buyers, they’ve also benefited current homeowners, leading to a recent surge in refinance activity.

In the Twin Cities region, for the week ending February 28:

• New Listings decreased 11.6% to 1,161
• Pending Sales increased 0.1% to 870
• Inventory increased 3.6% to 7,920

For the month of January:

• Median Sales Price increased 1.4% to $375,000
• Days on Market decreased 3.0% to 64
• Percent of Original List Price Received decreased 0.1% to 96.8%
• Months Supply of Homes For Sale remained flat at 2.0

All comparisons are to 2025

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