Showing Activity 

Across the NorthstarMLS coverage area, showing activity rose 29.8% compared to the same week in 2024. The gains were widespread, as all nine price ranges had more showings than last year. Showings on listings over $1M rose 70.4% while showings on listing under $200K rose 3.0%. Homes between $300-400K made up 29.4% of showings while homes over $1 million accounted for 2.97% of showings. It’s worth noting that this is the largest gain since late 2024. 

Minnesota Housing Market 

Lack of affordability still held back buyers as pending sales fell 7.9% last month. Sellers, too, listed 7.2% fewer homes. Inventory levels rose 1.0% year over year. We are still in an undersupplied market with just 2.1 months of supply. The statewide median price rose 4.9% to $343,000. Sellers accepted 96.7% of their original list price after 59 days on the market, both on average. In the Twin Cities for the week ending March 22, new listings rose 9.6% while pending sales were up 2.5%. Inventory levels increased 2.1%. 

Mortgage Rates 

Average, fixed 30-year mortgage rates stand at 6.74%, according to Mortgage News Daily. Mortgage rates mostly follow the 10-year treasury yield, which has declined due to concerns about the economy and uncertainty with tariffs. Investors concerned about slower growth are shifting to ultra-safe treasuries, which pushes the price up and the yield down.  

To view the latest Weekly Showings Report, click here.