December year-over-year summary of key market indicators:
- Closed sales decreased 4.0% to 7,137
- Median sales price increased 8.0% to $300,000
- Average sales price increased 9.4% to $351,135
- New listings decreased 14.3% to 3,591
- Pending sales decreased 12.4% to 4,595
- Days on the market decreased 16.3% to 36 days
- Homes for sale decreased 24.5% to 7,121
Closed Home Sales Across Minnesota by Region
In December, closed sales declined in nine regions compared to a year ago, bringing Minnesota’s average number of closed home sales down 4.0% year over year. Four regions reported increases, with three areas marking double-digit gains: South Central at 22.1%, Northwest at 14.0% and West Central at 10.2%. By contrast, four regions marked double-digit closed home sale declines: Headwaters down 20.0%, Southwest down 19.4%, Southwest Central down 15.6%, and Arrowhead down 14.6%. See the chart below for more details comparing closed home sales for December 2021 to December 2020.