Ted Bergstrom

MN Real Estate Team



Weekly Market Report

For Week Ending May 23, 2020

Mortgage rates have now been below 3.30 percent for four consecutive weeks, according to the latest update from Freddie Mac. These near-record low rates have been a catalyst for the recovering buyer activity in the housing market while sellers continue to maintain a little more cautious approach.

In the Twin Cities region, for the week ending May 23:

  • New Listings decreased 11.7% to 1,668
  • Pending Sales decreased 11.0% to 1,453
  • Inventory decreased 17.1% to 9,764

For the month of April:

  • Median Sales Price increased 8.9% to $305,000
  • Days on Market decreased 17.5% to 47
  • Percent of Original List Price Received increased 0.5% to 99.9%
  • Months Supply of Homes For Sale decreased 9.1% to 2.0

All comparisons are to 2019

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