Figures from the Minneapolis Area Association of Realtors show the median home price in the 13-county metro climbed to $175,000 in October -- up nearly 15 percent compared with the same period a year ago. MPR reports October was the eighth straight month of price gains. Pending and completed sales were also up last month.
A reduced supply of homes for sale is helping boost prices. The Pioneer Press notes inventory has dropped 41.4 percent compared with a year ago.
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Rochester single-family home sales also rose 36 percent in October compared to last year, according to newly released statistics from the Southeast Minnesota Association of Realtors. The Post Bulletin reports October's median sales price in the Med City was $162,000, up 5 percent from 2011.