For Week Ending November 5, 2016

It is unclear how having elected the first business person with no prior political experience and a heavy background in real estate as the nation’s president is going to influence the housing market. In the hours and days after the election, financial markets became quite volatile due to the uncertainty. However, it doesn’t seem as though demand from aspiring home buyers will be shrinking in the near future.

In the Twin Cities region, for the week ending November 5:

  • New Listings decreased 7.4% to 1,096
  • Pending Sales increased 9.4% to 980
  • Inventory decreased 17.8% to 12,706

For the month of October:

  • Median Sales Price increased 6.5% to $230,000
  • Days on Market decreased 14.3% to 60
  • Percent of Original List Price Received increased 0.8% to 96.9%
  • Months Supply of Inventory decreased 21.2% to 2.6

All comparisons are to 2015

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