Ted Bergstrom

MN Real Estate Team



Weekly Market Report

For Week Ending September 26, 2020

The Mortgage Bankers Association reported that the share of mortgages currently in forbearance dropped to 6.93% as of September 13, 2020, the 15th weekly decline in a row and its lowest level in five months. The share of mortgages in forbearance peaked in June at 8.55%. The continued decline is a positive sign, but current levels suggest many homeowners are still struggling from unemployment or underemployment due to the pandemic.

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

  • New Listings increased 11.2% to 1,747
  • Pending Sales increased 27.7% to 1,449
  • Inventory decreased 31.1% to 9,154

For the month of August:

  • Median Sales Price increased 9.8% to $315,000
  • Days on Market decreased 4.9% to 39
  • Percent of Original List Price Received increased 1.3% to 100.3%
  • Months Supply of Homes For Sale decreased 30.8% to 1.8

All comparisons are to 2019

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