This just in from Minnesota Realtors, our state Realtor association.
Statewide, sales have hit their lowest level since 2011 Due to a combination of high mortgage interest rates, high prices, and fewer homes on the market.
September Year-Over-Year Summary of Key Market Indicators:
- Closed sales: 5,718 (down 13.5%)
- Median sales price: $350,000 (up 6.1%)
- Average sales price: $406,489 (up 4.7%)
- New listings: 8,556 (up 4.4%)
- Pending sales: 5,623 (down 0.5%)
- Days on the market: 39 (up 18.2%)
- Homes for sale: 16,736 (up 10%)
