For Week Ending March 9, 2024

Mortgage rates fell for the first time in five weeks, as the average 30-year fixed rate mortgage slid 0.06 percentage points to 6.88% the week ending March 7, 2024, according to Freddie Mac. The decline in rates helped mortgage applications increase 7.1% on a seasonally adjusted basis from the previous week, according to the Mortgage Bankers Association, while applications to purchase a home were up 5% from the previous week.

IN THE TWIN CITIES REGION, FOR THE WEEK ENDING MARCH 9:

  • New Listings increased 24.9% to 1,313
  • Pending Sales increased 11.6% to 898
  • Inventory increased 11.9% to 6,793

FOR THE MONTH OF FEBRUARY:

  • Median Sales Price increased 4.6% to $358,000
  • Days on Market decreased 3.3% to 59
  • Percent of Original List Price Received increased 0.3% to 97.5%
  • Months Supply of Homes For Sale increased 28.6% to 1.8

All comparisons are to 2023

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