Twin Cities Housing Trends May 2023

May 1st – May 31st, 2023: Fully Accepted Offers

  • Inspections waived 37%
  • Pre-MLS sales 6%
  • Cash 19%, Conventional 63%, FHA 10%, VA 5%, Other 3%
  • Average purchase-to-list price is 102.0%, Median purchase-to-list price is 101.4%
  • Seller Contribution towards buyer’s closing costs 28%
  • Home warranties included a 5%
  • Contingent on the sale of the buyer’s home is 11%
  • Escalation clauses included in 8%
  • Appraisal gaps included in 24% of financed purchases
  • Cancellation rate of 10%

Tom Slupske | Realtor | Broker-Associate

RE/MAX Results | 763-235-7090

 

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