Weekly Market Report for Minneapolis Real Estate

By
Real Estate Agent with Luke Team Real Estate

Weekly Market Activity Report

VikingActivity continues to pick up in the Twin Cities housing market as sellers and buyers bid a sad farewell to the Vikings' football season and the dormant holiday market begins to thaw. New listings, sales and inventory are steadily increasing as we prepare for the spring selling season.

For the week ending January 16 there were 571 signed purchase agreements, up 4.0 percent from a year ago. That's only the second week of year-over-year increase in the last nine. New listings were 8.3 percent higher than a year ago at 1,668, and the total inventory of homes available for sale currently sits at 20,459, down 18.9 percent from last year at this time.

With an extreme shortage of inventory in some of the lower price ranges, new listings may be welcome in that segment for the first time in several years. In the upper price ranges, sales activity is still declining and new sellers face a tougher market.

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