December year-over-year summary of key market indicators:
Closed Home Sales Across Minnesota by Region
In December, closed sales declined in 12 regions compared to a year ago, bringing Minnesota’s average number of closed home sales down 38.7% year over year. The exception was the Upper MN Valley, which saw a 21.1% increase in closed sales. Otherwise, the smallest declines were seen in Southwest at 22.8%, Southwest Central at 25.4%, and Northwest at 30%. The largest declines were reported in South Central and East Central, each at 46.6%, and North Central at 47.3%. See the chart below for more details comparing closed home sales for December 2022 to December 2021.
The seven-county Twin Cities region comprises Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington counties. The official Minneapolis-St. Paul-Bloomington metropolitan statistical area recognized by the Census Bureau consists of 16 counties, on which MAR & SPAAR local associations report.
View full regional and county reports here.
View statewide report here.
About Minnesota Realtors®
Minnesota Realtors® (MNR) is the membership organization supporting all 22,000 Realtors® in the state of Minnesota. MNR is dedicated to helping Realtors® succeed in providing comprehensive and informed guidance to their customers seeking to buy or sell a home. MNR provides Realtors® with a code of ethics, continuing education, real estate transaction forms, legal services and dispute resolution, as well as lobbying and advocating for homeownership rights and the real estate industry. MNR works in partnership with the National Association of Realtors, as well as more than 15 affiliate regional associations within Minnesota. MNR is a non-profit organization founded in 1919, with headquarters in Minnetonka, Minnesota, and a branch office in St. Paul, Minnesota. Find us at www.mnrealtor.com and follow us on Facebook, Instagram, Twitter and LinkedIn. #HousingReport#MNRPressRelease
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