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JUNE HOUSING MARKET REPORT

7/3/2023

 
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Home Prices, Inventory Rise as Market
Activity Warms in June
 

Despite several year-over-year decreases across key housing market indicators in June, sales activity showed signs of warming up. Inventory experienced a slight increase over the previous month, with a modest upturn in the Minnesota housing market. 

“We were encouraged by the increase in market activity last month,” said Emily Green, President of Minnesota Realtors®. “Prospective buyers adjusted to the higher mortgage rates and demand remained strong. We witnessed healthy competition for properties, with multiple offers in some areas.”


June Year-Over-Year Summary of Key Market Indicators: 
  • Closed sales: 7,776 (down 17.4%) 
  • Median sales price: $350,000 (up 1.4%)
  • Average sales price: $405,952 (up 0.9%)
  • New listings: 9,822 (down 15.3%)
  • Pending sales: 7,345 (down 10.2%)
  • Days on the market: 29 (up 20.8%)
  • Homes for sale: 12,067 (down 9.3%) 

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  • MAIN
  • ABOUT ME
    • Background & Values
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    • Anderson Realty
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  • BUY & SELL
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    • FEATURED HOMES
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