Bruce Erickson

612-382-4099

Home
Compass PN
MENUMENU
  • Home
  • 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

January 3, 2023 by nimdaerickson

For Week Ending December 24, 2022

Elevated mortgage rates continue to take a toll on the construction industry, with housing permits for new homes falling 11.2% in November, according to the Commerce Department. Housing starts were down 0.5% over the same time period, with the annual rate of housing starts down 16.4% from the previous year. Overall construction was strongest in the West and the South, while single-family construction was strongest in the West and Northeast.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 24:

  • New Listings decreased 5.6% to 303
  • Pending Sales decreased 20.8% to 449
  • Inventory increased 18.8% to 6,881

FOR THE MONTH OF NOVEMBER:

  • Median Sales Price increased 4.1% to $354,000
  • Days on Market increased 33.3% to 40
  • Percent of Original List Price Received decreased 2.6% to 97.2%
  • Months Supply of Homes For Sale increased 50.0% to 1.8

All comparisons are to 2021

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

Filed Under: Inventory

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

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
  • Instagram
  • 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 © 2025 | MSLLC