This just in from Minnesota Realtors:
“Housing Market Cools as Closed Sales Decline
The cooling trend in Minnesota’s housing market continued in November as closed sales fell 35.3% statewide compared to a year ago. New listings were down 17% below last year with 4,735 properties coming on the market. The median sales price was up nearly 2% to $310,000. As seen in recent months, sellers were receiving a little under their asking price, down 2.5% over November 2021.”
November of 2019 there were 6819 home sales in Minnesota and 7898 in November 2020 and 7,761 in 2021. Home prices contineu to rise as demands remains greater than supply.
The average days on market for the state is around 40 but still less than 30 days in St. Paul.
