Bruce Erickson

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Gain from experience

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

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Weekly Market Report

March 7, 2022 by nimdaerickson

For Week Ending February 26, 2022

Nationally, pending home sales decreased 5.7% as of last measure, marking the third consecutive month of declines according to the National Association of REALTORS®. With housing supply at a record low, buyers are finding fewer and fewer homes for sale, while rising mortgage rates and increased housing costs have priced out marginal buyers. Inventory levels are expected to improve gradually as the weather warms; in the meantime, economists say buyers should expect a challenging spring market.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING FEBRUARY 26:

  • New Listings decreased 12.7% to 1,104
  • Pending Sales decreased 15.1% to 964
  • Inventory decreased 16.9% to 4,469

FOR THE MONTH OF JANUARY:

  • Median Sales Price increased 10.6% to $333,000
  • Days on Market decreased 2.4% to 41
  • Percent of Original List Price Received increased 0.1% to 99.6%
  • Months Supply of Homes For Sale decreased 20.0% to 0.8

All comparisons are to 2021

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

Filed Under: Weekly Report

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

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