Weekly Market Activity Report For Week Ending October 24, 2020

  • Stafford Family Realtors
  • 11/10/20
 

Freddie Mac reported that the 30-year fixed-rate mortgage hit a new all-time low this week, dropping to an average of 2.8% with .6 points. Record-low rates, coupled with continued strong buyer demand was seen in recent months, should continue to support an active market in the coming weeks in what is normally a slower time of year. 

In the Twin Cities Region, for the Week Ending October 24:

  • New Listings increased 8.1% to 1,361
  • Pending Sales increased 27.0% to 1,422
  • Inventory decreased 29.7% to 8,971

For the Month of September:

  • Median Sales Price increased 10.8% to $310,000
  • Days on Market decreased 15.9% to 37
  • Percent of Original List Price Received increased 2.0% to 100.5%
  • Months Supply of Homes For Sale decreased 33.3% to 1.8

 

 

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