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Twin Cities Home Prices Jump 17.5%

Median Sales Price

Twin Cities Real Estate - Median Sales Pricejune-2013-median-sales-price-2

Another WOW month for the Twin Cities real estate market.  Homes that closed in June sold for a $210,000 median price, a 17.5% increase versus a year ago and an 8.2% increase from the month prior.  The $210,000 median sales prices what the highest since December 2007 – over 5 1/2 years ago.

Days on Market

Twin Cities Homes - Days on Marketdays-on-market-2

Meanwhile the time it takes to sell a home continues to drop dramatically – now at just 74 days – down 34% in the last 12 months.  Many houses are selling in multiple offer in the first few days they are listed.

Percent of Original List Price Received

percent-of-list-1percent-of-list-2

As homes are selling faster and many are attracting multiple offers, on average sellers are discounting only 2.5% off the list price – the smallest amount in 7 years!

All data is from NorthstarMLS and charts are produced by 10K Research and Marketing.

Begin your search for Twin Cities Homes for Sale now.

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TwinCitiesRealEstateBlog.com is not a Multiple Listing Service MLS, nor does it offer MLS access.
This website is a service of Aaron Dickinson of Edina Realty, a broker Participant of the Regional Multiple Listing Service of Minnesota, Inc.