For Week Ending October 26, 2019
A new Census report this week announced that new construction home sales nationwide decreased slightly to a seasonally adjusted rate of 701,000 units, which is 15.5% higher than a year ago. Also in the announcement was news that the median sales price of new construction homes declined to $299,440 nationally, down 8% from a year ago. This decline was due to an increase in the availability of new homes at lower price points and is a welcomed change in what has been an underserved segment of the market.
In the Twin Cities region, for the week ending October 26:
- New Listings decreased 0.4% to 1,239
- Pending Sales increased 9.1% to 1,094
- Inventory decreased 4.9% to 12,212
For the month of September:
- Median Sales Price increased 6.8% to $279,700
- Days on Market increased 2.4% to 43
- Percent of Original List Price Received increased 0.1% to 98.5%
- Months Supply of Homes For Sale decreased 3.7% to 2.6
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.