In December, closed sales were down 4% statewide. Certain regions, however, saw a substantial increase in that metric compared with December 2022. As represented in the table below, the Headwaters, North Central, and South Central regions saw the highest increases year over year. With pending sales up in December 2023 for the first time in over two years, we expect closed sales figures to follow suit in January 2024. Just how much they rise will depend on closing timelines and broader market conditions.
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.
To access our full December 2023 Housing Market Report, click here.