Curious what the market is like right now? Check out this weekly report from Minneapolis Area Realtors!
Weekly Market Activity Report for Week Ending February 28
The average 30-year fixed mortgage rate fell to 5.98% for the week ending February 26, 2026, marking the first time in 3½ years that rates have dropped below 6%, according to Freddie Mac. While falling rates are welcome news for prospective buyers, they’ve also benefited current homeowners, leading to a recent surge in refinance activity.
In the Twin Cities region, for the week ending February 28:
- New Listings decreased 11.6% to 1,161
- Pending Sales increased 0.1% to 870
- Inventory increased 3.6% to 7,920
For the month of January:
- Median Sales Price increased 1.4% to $375,000
- Days on Market decreased 3.0% to 64
- Percent of Original List Price Received decreased
0.1% to 96.8% - Months Supply of Homes For Sale remained flat at 2.0
Source: https://www.mplsrealtor.com/news/2026/weekly-market-activity-report-for-week-ending-february-28/