The Twin Cities, Minn., housing market posted record sales in 2004, with 58,233 units sold, an increase of 3 percent compared to 2003, according to figures compiled from the Regional Multiple Listing Service of Minnesota Inc.
The 2004 median home price combining all 12 months’ activity was $215,900, an increased of 8 percent as compared to 2003. The median price has remained stable for the past seven months, averaging in the $220,000 range.
Jim Reiter, president of the Saint Paul Area Association of Realtors, said, “If you purchased a $150,000 home in 2000, just four years ago, it would be worth $211,700 today, a 41 percent increase in value over the four years.”
New listings totaled 97,737 units last year, a 13 percent jump compared to 2003.
More than 17,000 members representing all aspects of the real estate industry serve the Twin Cities market through four Realtor associations.
What’s your opinion? Send your Letter to the Editor to email@example.com.