Industry News

Twin Cities real estate sales slip

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Home sales in the Twin Cities, Minn., region fell for the second consecutive month in July while the median home price posted gains, the Saint Paul Area Association of Realtors reported Wednesday. Realtors reported a total of 5,995 home sales in the 13-county metropolitan area in July, down 4 percent from 6,244 in July 2004. Year-to-date closed home sales slipped 0.65 percent to 32,394, compared with 32,606 for the same period ending in July 2004. The five counties with the largest annual increases in closed home sales for July were: Goodhue (+12 percent), Sherburne (+9.6 percent), Scott (+7.2 percent), Wright (+5.6 percent) and Washington (+4.9 percent). The metro-area median sales price for July reached $233,300, a 6.3 percent increase over July 2004's price of $219,395. Housing statistics include existing single-family homes, condominiums and townhouses. Statistics are provided by the Saint Paul Area Association Realtors and are based on the closed existing-home sales as reported b...