Housing inventory reached 1.60 million units in September, up 1.9% from August and 4.6% from a year earlier, a 4.8-month supply at the current sales pace, according to the National Association of Realtors®. The median existing-home sales price was $417,500, up 1.3% from $412,300 a year earlier, the 39th consecutive month of year-over-year price gains. With a median of 33 days on market, up from 31 in August, NAR Chief Economist Lawrence Yun said higher inventory and lengthening days on market give buyers improved negotiating power.

In the Twin Cities region, for the week ending October 17:

• New Listings decreased 4.9% to 1,263
• Pending Sales decreased 19.2% to 683
• Inventory increased 12.7% to 12,600

For the month of September:

• Median Sales Price increased 1.3% to $395,000
• Days on Market increased 11.4% to 49
• Percent of Original List Price Received decreased 0.7% to 97.7%
• Months Supply of Homes For Sale increased 13.8% to 3.3

All comparisons are to 2025

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

The 30-year fixed-rate mortgage averaged 7.40% as of October 8, up from 7.28% a week earlier and 6.30% a year ago, according to Freddie Mac. The 15-year fixed rate mortgage averaged 6.73%, up from 6.60% the prior week. The 30-year average has now risen for seven straight weeks.

In the Twin Cities region, for the week ending October 10:

• New Listings decreased 1.5% to 1,353
• Pending Sales decreased 12.8% to 735
• Inventory increased 12.2% to 12,512

For the month of September:

• Median Sales Price increased 1.3% to $395,000
• Days on Market increased 11.4% to 49
• Percent of Original List Price Received decreased 0.7% to 97.7%
• Months Supply of Homes For Sale increased 13.8% to 3.3

All comparisons are to 2025

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