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Weekly Market Report

For Week Ending March 13, 2021

Freddie Mac reported that cash-out refinancing activity surged 42% in 2020 compared to 2019, as homeowners cashed out $152.7 billion in home equity, the highest level since 2007. Low interest rates and strong appreciation in recent years proved attractive to cash-out refinance borrowers, who, on average, withdrew $50,000 in equity.

In the Twin Cities region, for the week ending March 13:

  • New Listings decreased 22.0% to 1,391
  • Pending Sales increased 4.8% to 1,252
  • Inventory decreased 46.5% to 4,857

For the month of February:

  • Median Sales Price increased 11.5% to $314,000
  • Days on Market decreased 31.3% to 46
  • Percent of Original List Price Received increased 2.1% to 100.1%
  • Months Supply of Homes For Sale decreased 47.1% to 0.9

All comparisons are to 2020

Click here for the full Weekly Market Activity Report. From MAAR Market Data News.

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
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All information deemed reliable but not guaranteed and should be independently verified.

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