For Week Ending November 28, 2020

On Tuesday, the Dow Jones Industrial Average closed over 30,000 for the first time based on the good news in the development of coronavirus vaccines. Strength in the stock market, coupled with ongoing near-record low mortgage rates, continues to support healthy buyer demand in the market, though many take a short pause over the Thanksgiving holiday this week.

In the Twin Cities region, for the week ending November 28:

• New Listings increased 11.2% to 568
• Pending Sales increased 13.6% to 829
• Inventory decreased 34.8% to 7,219

For the month of October:

• Median Sales Price increased 12.5% to $315,000
• Days on Market decreased 23.9% to 35
• Percent of Original List Price Received increased 2.4% to 100.5%
• Months Supply of Homes For Sale decreased 36.0% to 1.6

All comparisons are to 2019

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