For Week Ending December 21, 2024
New-home purchases accounted for 15% of home sales over the past year, the
highest share since 2007, while existing-home purchases accounted for 85%,
according to a recent report from the National Association of REALTORS®. Among
new-home buyers, 42% were most often looking to avoid renovations and
problems with mechanical systems, while 31% of existing-home buyers felt
previously owned homes represented a better overall value.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 21:
- New Listings decreased 1.0% to 477
- Pending Sales increased 3.1% to 605
- Inventory increased at 7,832
FOR THE MONTH OF NOVEMBER:
- Median Sales Price increased 3.4% to $375,000
- Days on Market increased 25.0% to 50
- Percent of Original List Price Received increased 0.2% to 97.6%
- Months Supply of Homes For Sale remained flat at 2.3
All comparisons are to 2023
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.