Curious what the market is like right now? Check out this weekly report from Minneapolis Area Realtors!
Weekly Market Activity Report for Week Ending August 29
Mortgage rates edged higher this week, with the 30-year fixed-rate mortgage averaging 6.71% as of September 3, according to Freddie Mac. This is up from 6.66% the prior week and 6.50% a year ago. Purchase demand has remained relatively stable, indicating steady interest from buyers adapting to evolving market conditions despite rates hovering near multi-year highs.
In the Twin Cities region, for the week ending August 29:
- New Listings increased 15.9% to 1,391
- Pending Sales decreased 5.6% to 908
- Inventory increased 9.6% to 11,947
For the month of July:
- Median Sales Price increased 3.3% to $408,000
- Days on Market remained flat at 40
- Percent of Original List Price Received decreased 0.2% to 99.1%
- Months Supply of Homes For Sale increased 7.1% to 3.0
Source: https://www.mplsrealtor.com/news/2026/weekly-market-activity-report-for-week-ending-august-29-2/