Bruce Erickson

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Over fifteen years of real estate experience in Minneapolis ans surrounding communities.

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Weekly Market Report

December 9, 2024 by nimdaerickson

For Week Ending November 30, 2024

The majority of new single-family housing starts in 2023 were built on slab foundations, according to the National Association of Home Builders’ analysis of the Survey of Construction (SOC), with 72.4% of new homes built on slabs last year, compared to 45.8% in 2000. 16.6% of new homes were built with full or partial basements in 2023, down from 19.6% in 2022.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING NOVEMBER 30:

  • New Listings decreased 34.4% to 515
  • Pending Sales decreased 10.7% to 592
  • Inventory increased 5.5% to 9,043

FOR THE MONTH OF OCTOBER:

  • Median Sales Price increased 4.2% to $380,500
  • Days on Market increased 21.6% to 45
  • Percent of Original List Price Received decreased 0.7% to 97.8%
  • Months Supply of Homes For Sale increased 8.0% to 2.7

All comparisons are to 2023

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

Filed Under: Inventory

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