For Week Ending April 5, 2025

Mortgage application volume increased 20% from one week earlier, according to the Mortgage Bankers Association, as a drop in rates caused a spike in demand. Purchase applications rose 9% from the previous week and were 24% higher than the same week a year ago, while refinance applications increased 35% from the previous week and were up 93% from the same week a year ago.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING APRIL 5:

• New Listings increased 8.4% to 1,534
• Pending Sales increased 18.7% to 1,043
• Inventory increased 4.0% to 7,788

FOR THE MONTH OF FEBRUARY:

• Median Sales Price increased 6.1% to $380,000
• Days on Market increased 16.9% to 69
• Percent of Original List Price Received increased 0.2% to 97.7%
• Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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

For Week Ending March 29, 2025

A family with a national median income of $97,800 needed 38% of their income to make the monthly mortgage payment on a median-priced new home ($419,200) in the fourth quarter of 2024, according to the latest NAHB / Wells Fargo Cost of Housing Index (CHI). For existing homes, a family needed to spend 37% of their income to afford the monthly payment on a median-priced home ($410,100).

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 29:

• New Listings increased 23.6% to 1,300
• Pending Sales increased 13.5% to 1,067
• Inventory increased 3.5% to 7,750

FOR THE MONTH OF FEBRUARY:

• Median Sales Price increased 6.1% to $380,000
• Days on Market increased 16.9% to 69
• Percent of Original List Price Received increased 0.2% to 97.7%
• Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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

For Week Ending March 22, 2025

The median age of U.S. homebuyers is now 56 years old, up from 49 in 2023, according to the National Association of Realtors®’ 2024 Profile of Home Buyers and Sellers. The median age of first-time buyers rose from 35 to 38 years old, while the typical repeat buyer age climbed from 58 to 61 years old. The median ages of all three groups reached record highs in 2024.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 22:

• New Listings increased 9.6% to 1,342
• Pending Sales increased 2.5% to 974
• Inventory increased 2.1% to 7,667

FOR THE MONTH OF FEBRUARY:

• Median Sales Price increased 6.1% to $380,000
• Days on Market increased 16.9% to 69
• Percent of Original List Price Received increased 0.2% to 97.7%
• Months Supply of Homes For Sale increased 5.3% to 2.0

All comparisons are to 2024

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