Despite a drop in sales for February, median home prices in Minnesota’s Twin Cities region gained 6.8 percent from the same month last year, according to the state’s Realtor Public Policy Partnership.
The median sale price in the 13-county metropolitan area hit $201,824 last month compared to $189,000 in February 2003.
Anoka, Sherburne, and Scott counties logged the greatest increases in median sale price this February compared to February 2003. Anoka County’s median sale price rose 12.9 percent to $201,000; Sherburne County’s median price rose 10.7 percent to $191,500; and Scott County’s median price rose 9.7 percent to $233,500. Chisago and Sherburne counties saw the greatest increases in closed sales; Chisago County sales increased 58.5 percent to 65 and Sherburne County sales increased 32.9 percent to 101.
February home sales totaled 2,731, a 1.6 percent decrease from last year’s record-breaking 2,776 February sales, according to the region’s three Realtor associations.
“February sales indicate that the Twin Cities housing market remains very healthy,” according to Decklynn Theisen, president of the Southern Twin Cities Association of Realtors. “March typically kicks off the spring home-selling season and with continued low-interest rates, lots of new listings on the market and strong pending sales numbers, we expect it to be a very productive month for home buyers and sellers.”
New listings in February were up 12.7 percent to 6,700.
The Realtor Public Policy Partnership uses the combined strength of the North Metro Realtors Association, the Saint Paul Area Association of Realtors and the Southern Twin Cities Association of Realtors to serve as the voice of more than 7,000 members involved in all aspects of the real estate industry.
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