The latest REALTORS® Confidence Index Survey found that, nationally, sellers of homes that closed in October saw 3.7 offers on average, which was up from 3.4 offers on average a year ago. The survey also found the typical buyer had made two unsuccessful offers before securing their new home, and that first-time buyers accounted for 29% of existing-home buyers, down from 32% a year ago. Cash purchases rose to 24% of sales from 19% one year ago, and non-primary residence buyers (investors and second home buyers) rose to 17% from 14% in 2020.
IN THE TWIN CITIES REGION, FOR THE WEEK ENDING DECEMBER 4:
- New Listings decreased 1.0% to 860
- Pending Sales decreased 12.5% to 907
- Inventory decreased 16.1% to 6,297
FOR THE MONTH OF OCTOBER:
- Median Sales Price increased 7.9% to $340,000
- Days on Market decreased 22.9% to 27
- Percent of Original List Price Received decreased 0.2% to 100.3%
- Months Supply of Homes For Sale decreased 17.6% to 1.4
All comparisons are to 2020
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.