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Weekly Market Report

September 27, 2021 by Al and Patti Iverson

For Week Ending September 18, 2021

Despite increases in new listings in recent months, America is facing an epic housing shortage, with realtor.com reporting the U.S. needs an additional 5.24 million homes to meet current population needs, an increase of 1.4 million homes since 2019, as new-home construction has failed to keep up with household formations. Assuming the rate of household formations continues, the average rate of new home completions would need to triple over the next 5 – 6 years in order to meet current demand.

In the Twin Cities region, for the week ending September 18:

  • New Listings decreased 10.5% to 1,736
  • Pending Sales decreased 18.1% to 1,289
  • Inventory decreased 15.0% to 8,287

For the month of August:

  • Median Sales Price increased 11.1% to $350,000
  • Days on Market decreased 43.6% to 22
  • Percent of Original List Price Received increased 2.1% to 102.4%
  • Months Supply of Homes For Sale decreased 26.3% to 1.4

All comparisons are to 2020

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

Filed Under: Weekly Report

  • Calculators
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  • The Loan Process
  • Mortgage Glossary
  • Markets Updates
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$ 649,900 - Eden Prairie MN 55344
6549 Cherokee Trail W
5 beds, 4 baths
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$ 649,900 - Eden Prairie MN 55347
15763 Village Woods Drive
5 beds, 4 baths
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$ 339,900 - Zimmerman MN 55398
10090 259th Avenue NW
5 beds, 2 baths
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$ 189,900 - Bloomington MN 55420
9600 Portland Avenue S
2 beds, 2 baths
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$ 215,000 - Minneapolis MN 55401
401 1st Street
0 beds, 1 baths
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$ 900,000 - Wood Lake MN 56297
1793 550th Street
9 beds, 9 baths
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$ 219,900 - Circle Pines MN 55014
109 South Drive
2 beds, 2 baths
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$ 384,900 - Minneapolis MN 55408
3443 Hennepin Avenue
3 beds, 3 baths
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$ 1,279,000 - Edina MN 55436
5320 Ayrshire Boulevard
3 beds, 3 baths
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$ 359,900 - Crystal MN 55427
6426 Markwood Drive N
3 beds, 2 baths
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The Iverson Realty Group

Coldwell Banker Realty
17305 Cedar Ave S, Ste 100
Lakeville, MN 55044

Realtor & Housing

Licensed In Minnesota

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



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