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Weekly Market Report

For Week Ending November 3, 2018

According to Freddie Mac, the 30-year fixed rate is at its highest average in seven years, reaching 4.94 percent. Last year at this time, the average rate was 3.90 percent. The higher rates are causing a slowdown in home price growth in some markets, but not all markets yet. Keeping a positive perspective, average rates were 5.97 percent ten years ago at this time, 6.78 percent 20 years ago and 10.39 percent 30 years ago. For maximum comparative impact, consider the 17.21 percent average rate of November 1981.

In the Twin Cities region, for the week ending November 3:

  • New Listings increased 9.7% to 1,115
  • Pending Sales decreased 16.5% to 943
  • Inventory decreased 1.1% to 12,095

For the month of September:

  • Median Sales Price increased 6.1% to $262,000
  • Days on Market decreased 16.0% to 42
  • Percent of Original List Price Received increased 0.3% to 98.4%
  • Months Supply of Inventory remained flat at 2.6

All comparisons are to 2017

Click here for the full Weekly Market Activity Report. From The Skinny Blog.

Weekly Report

Marty Siegel REALTOR, CRS,GRI

Direct: 952.844.6156
Cell: 612.670.3839
E-mail: TCRealtor@aol.com
Coldwell Banker Realty
7550 France Ave. S
Edina, MN 55435
DAVID KAMPIC SIEGEL ENDOWMENT FUND INFORMATION
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All information deemed reliable but not guaranteed and should be independently verified.

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