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Weekly Market Report

July 12, 2021 by Jeff Martineau

For Week Ending July 3, 2021

Mortgage applications decreased 1.8% last week, falling to the lowest level since January 2020, according to the Mortgage Bankers Association’s seasonally adjusted index, with declines noted in both refinance and purchase applications. Rising home prices and low inventory are responsible for the decline, even as mortgage rates remain low, causing experts to speculate whether the roaring housing market is finally cooling down.

In the Twin Cities region, for the week ending July 3:

  • New Listings decreased 1.9% to 1,343
  • Pending Sales increased 4.3% to 1,610
  • Inventory decreased 33.5% to 6,906

For the month of April:

  • Median Sales Price increased 16.6% to $344,000
  • Days on Market decreased 41.5% to 24
  • Percent of Original List Price Received increased 4.4% to 104.0%
  • Months Supply of Homes For Sale decreased 50.0% to 1.1

All comparisons are to 2020

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

Filed Under: Weekly Report

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Mark J Duevel
Coldwell Banker Realty
Wayzata Office
235 Lake Street East, Suite 100
Wayzata, MN 55391-1774

952.473.3000 (Office )
612.963.7128 (Mobile)
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Jeff L Martineau
Coldwell Banker Realty
Wayzata Office
235 Lake Street East, Suite 100
Wayzata, MN 55391-1774

952.473.3000 (Office )
952.210.2626 (Mobile)


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

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