Bruce Erickson

612-382-4099

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

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Weekly Market Report

January 10, 2022 by nimdaerickson

For Week Ending January 1, 2022

After a brief moderation last spring and summer, lumber prices are on the rise again. According to the National Association of Home Builders, lumber prices have nearly tripled the past 4 months, adding more than $18,600 to the price of the average new single-family home. The COVID-19 pandemic continues to impact the lumber market, with the most recent surge in prices due to supply chain disruptions, sharp increases of tariffs on Canadian lumber imports, and record wildfires in the western U.S. and British Columbia.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING JANUARY 1:

  • New Listings decreased 26.5% to 403
  • Pending Sales decreased 17.7% to 567
  • Inventory decreased 21.8% to 4,890

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 9.6% to $339,900
  • Days on Market decreased 11.8% to 30
  • Percent of Original List Price Received decreased 0.4% to 99.8%
  • Months Supply of Homes For Sale decreased 14.3% to 1.2

All comparisons are to 2021

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

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