For Week Ending December 28, 2019
Data from the Census Bureau’s Survey of Construction (SOC) and the National Association of Home Builders shows that 62.5 percent of all new construction homes started in 2018 were built as part of a community or homeowner’s association, up from 47.6% in 2009. These associations are typically created when the developments are built to maintain common areas of the developments and to enforce private deed restrictions, which often detail requirements for the exterior appearance and upkeep of properties.
In the Twin Cities region, for the week ending December 28:
- New Listings decreased 15.6% to 259
- Pending Sales decreased 3.7% to 495
- Inventory decreased 14.0% to 8,354
For the month of November:
- Median Sales Price increased 5.6% to $279,900
- Days on Market decreased 1.9% to 51
- Percent of Original List Price Received increased 0.2% to 97.5%
- Months Supply of Homes For Sale decreased 4.5% to 2.1
All comparisons are to 2018
Click here for the full Weekly Market Activity Report. From MAAR Market Data News.