Median Home Sales Price Update for the Twin Cities

By
Real Estate Agent with Keller Williams Premier

Tax Credit, economy recovering, or both; numbers are numbers and at least they are positive.  i was recently reading an article in the Pioneer Press posting the latest numbers from the Minneapolis Area Association of Realtors regarding April 2010's median sale prices compared to April 2009 numbers.  The 13 county Twin Cities Metro median home sales price is up 11 percent.  The April 2010's median sales price was $169,800 versus a 2009 sales price of $153,000.

Of course the biggest question is are these prices due solely because of the tax credit or other factors?  It would be naive to think that the tax credit had no impart.  The last week of April's pending sales we up 31% compared to the same time last year.  Buyers were hurrying to get the offer accepted before April 30th.  Interest rates are still very low, the lowest of the year actually.  This time next year will be a great reality check for the economy and real estate market

Chart of Twin Cities and Closest County Stats:

County            Closed Sales '10    2010 vs 2009    Median Prices '10     2010 vs 2009

Twin Cities       3,927                  17.1%            $169,800                11.0%

Anoka             401                     22.3%            $150,000                4.8%

Dakota            467                     22.6%            $173,300                8.3%

Hennepin         1,375                  9.1%              $185,000                14%

Ramsey           527                    18.7%             $152,000                23%

St. Croix, WI    101                     40.3%            $166,000                10.9%

Washington      331                     49.8%            $180,000               -2.3%

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Ryan Bretzel

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