Bruce Erickson

612-382-4099

MENUMENU
  • Home
  • Search Properties
  • Our Listings
  • Resources
    • Sellers
    • Buyers
  • News
  • Contact
1 2 3 4 5 6

Gain from experience

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

More about Bruce

Weekly Market Report

September 27, 2021 by nimdaerickson

For Week Ending September 18, 2021

Despite increases in new listings in recent months, America is facing an epic housing shortage, with realtor.com reporting the U.S. needs an additional 5.24 million homes to meet current population needs, an increase of 1.4 million homes since 2019, as new-home construction has failed to keep up with household formations. Assuming the rate of household formations continues, the average rate of new home completions would need to triple over the next 5 – 6 years in order to meet current demand.

In the Twin Cities region, for the week ending September 18:

  • New Listings decreased 10.5% to 1,736
  • Pending Sales decreased 18.1% to 1,289
  • Inventory decreased 15.0% to 8,287

For the month of August:

  • Median Sales Price increased 11.1% to $350,000
  • Days on Market decreased 43.6% to 22
  • Percent of Original List Price Received increased 2.1% to 102.4%
  • Months Supply of Homes For Sale decreased 26.3% to 1.4

All comparisons are to 2020

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

Filed Under: Inventory

$ 209,900 - Maple Grove MN 55369
429 Eagle Lake Drive
2 beds, 1 baths
View Details
$ 1,495,000 - Wayzata MN 55391
480 Hillside Drive
5 beds, 5 baths
View Details
$ 799,000 - Golden Valley MN 55426
365 Laurel Curve
4 beds, 3 baths
View Details

Greet me and meet me on social media. You can follow my new listings and changes in the marketplace on any of the following. Follow me.

  • Facebook
  • Google+
  • Instagram
  • StumbleUpon
  • Twitter

Navigation

  • Calculators
  • Finding A Loan Officer
  • The Loan Process
  • Mortgage Glossary
  • Markets Updates
  • Area Links
  • Schools

Keep in Touch!

Realtor & Housing

Licensed In Minnesota

All information deemed reliable but not guaranteed and should be independently verified.

Copyright © 2022 | MSLLC