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Twin Cities Home Prices Jump 17.5%

Median Sales Price

june 2013 median sales price 1 300x192 Twin Cities Home Prices Jump 17.5%june 2013 median sales price 2 300x192 Twin Cities Home Prices Jump 17.5%

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

days on market 1 300x192 Twin Cities Home Prices Jump 17.5%days on market 2 300x192 Twin Cities Home Prices Jump 17.5%

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 1 300x192 Twin Cities Home Prices Jump 17.5%percent of list 2 300x192 Twin Cities Home Prices Jump 17.5%

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.

pf button both Twin Cities Home Prices Jump 17.5%
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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.