2011 sales numbers spur optimism about this year's Twin Cities housing market

The number of homes sold in the Twin Cities area reached a five-year high and was up eight percent from 2010. Half of those were foreclosures or short sales. But Realtors say those properties are "working their way through the system."
Author:
Updated:
Original:

The number of homes sold in the Twin Cities area reached a five-year high and was up eight percent from 2010. Half of those were foreclosures or short sales. But Realtors say those properties are "working their way through the system."

Next Up

police lights

Attempted luring of 14-year-old girl reported in West St. Paul

The suspect is described as a white man in his 40s.

Screen Shot 2021-03-04 at 9.19.48 PM

Worker, 18, suffers serious electric shock at Vikings apartments site

The worker was reportedly in a critical condition Thursday.

49920879552_ef6458affd_o2

As golf season approaches, book your round now at Dacotah Ridge GC

The stunning course is designed by world-renowned architect Rees Jones.

Kevin Garnett

Kevin Garnett's group out of potential Timberwolves sale

Timberwolves owner Glen Taylor said that Garnett's group was not one of "more than 10" to buy the team.

axebridge

Full production winery set to open in Minneapolis this month

The couple behind Schram Vineyards Winery and Brewery is opening AxeBridge Wine Company in Minneapolis' North Loop neighborhood.

ambulance

Pedestrian killed in two-vehicle crash in Crystal

The incident happened just after noon.

Screen Shot 2021-03-04 at 1.45.48 PM

Foss Swim School opens its 9th Minnesota location in former Pier 1 store

The Eden Prairie based company has 22 locations across the Midwest.

police tape, crime scene

Charges: Minneapolis man kills woman, tells police to kill him

A convicted felon is accused of fatally shooting a 29-year-old woman on Feb. 28.

tree

It's that time of year: Minneapolis offers deal on trees for property owners

The City Trees program sells trees for $25 from March 8 to April 16, or until trees run out.

coronavirus, covid-19, doctor

CDC report reveals how first cases of Brazilian COVID variant came to MN

Dozens of people had to be tested for the virus after the first and only two cases of the P.1 variant were detected in Minnesota.

Related

St. Thomas report shows optimism about Twin Cities housing market

A report from the business school at the University of St. Thomas says low-priced homes are getting snapped up by first-time homebuyers and investors. Many are foreclosures, but conventional home sales are up, as well, with the median price just under $200,000.

Twin Cities housing market continues to show improvement

Last month, the median sales price of homes jumped about 11 percent to $169,000 from the same month last year, according to a new report by the Minneapolis Area Association of Realtors. The number of pending purchase agreements also spiked 27 percent, while closed sales increased 21 percent. However, the inventory of homes for sale continued to fall in May.

Minnesota home sales improve in November

The number of Minnesota homes sold increased in November. According to the Minnesota Association of Realtors, housing sales were up 11.2 percent compared to a year ago. However, home prices remain low. The report blames foreclosures for keeping values down, but credits bargin prices and low interest rates for the improved sales.

Plunge in home prices not limited to foreclosures

Foreclosures and short sales made up about half of the home sales in the Twin Cities area by the end of 2011. But even among traditional sales, prices are plunging. The median price fell more than ten percent last year, down to $190,000.