The Minnesota Realtors put out their annual housing report again this year in early February. Following are a few key metrics from the 2025 housing report that may be of interest to both buyers and
New listings up and closed sales down
Dated: June 22 2022
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You may have seen the local TV news story about a week ago that reported May results for the MN housing market. The economy continues to be in the spotlight with a rise in interest rates and inflationary pressures. It is still difficult for first-time homebuyers to break in and sellers continue to be drawn into the market. I noted below some details from the MN Realtors report for May 2022…
New listings up 3.6% compared to a year ago.
Closed sales were down 6.5% compared to last year.
Median sales price increased 10.2% to $341,500
1.4-month supply of homes on the market, up almost 17% year over year.
Sellers received an average 103.2% of the asking price, a 0.3% increase over last year.
https://www.mnrealtor.com/blogs/mnr-news1/2022/06/10/new-listings-bump-up-as-closed-sales-soften
As always, I am just a phone call, text, or email away. Contact me at any time if you want to talk with me about this crazy real estate market. Or want an update on your house value in the real estate market. I am ready to assist you!
Ruth Lecy
With over 35 years of experience in residential real estate I have the expertise you are looking for. My experience spans from land and lot sales and purchase; to first-time buyers; to luxury multi-m....
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