Skip to main content
Updated:
Original:

More homes sell in March, prices continue to rise

Author:

March was a good month for sellers in the Twin Cities real estate market and sets April up to follow suit. An increase in purchase agreements caused an impressive increase in home prices, the Star Tribune reports.

According to data released Wednesday by the Minneapolis and St. Paul Realtor's Associations, the median price in the metro last month was $176,000, an increase of 17.4 percent.

At the same time, the Pioneer Press points out, there's some concern over a shrinking inventory. The number of homes on the market dropped 31 percent to 12,615.

Realtors say closed sales last month included fewer foreclosures and short sales, which contributed to the decline in houses listed.

The Star Tribune says 75 percent of new listings in March were not foreclosures or short sales--the highest level since May 2008.

Next Up

D'Angelo Russell

D'Lo's late takeover helps Timberwolves win double-OT thriller

Russell caught fire to help the Timberwolves get back to .500.

Gopher Football

Gophers suffocate Badgers, reclaim Paul Bunyan's Axe

Minnesota picked up its first home win over the Badgers since 2003.

Meeker County Sheriff's Office

Boy, 6, run over after falling off trailer in Meeker Co. tree farm accident

He was airlifted to Hennepin County Medical Center with internal injuries.

Target store

Target unveils deals for 2-day 'Cyber Monday' event

The promotion kicks off Sunday, November 28.

Screen Shot 2021-11-27 at 9.59.30 AM

Edina police warn of recent burglary trend targeting garages and vehicles

The Edina Police Department is increasing patrols in affected neighborhoods in response to the trend.

Screen Shot 2021-11-27 at 9.03.06 AM

Charges: Man shot Uber Eats driver making a delivery in Cottage Grove

Otis Donnell Shipp was charged with second-degree attempted murder after turning himself in on Wednesday.

Screen Shot 2021-11-27 at 7.36.14 AM

Waterfront hotel in Duluth sustains damage in kitchen fire

Authorities estimate the damage at around $75,000.

Screen Shot 2021-11-27 at 7.15.18 AM

Large groups of thieves target 2 Twin Cities Best Buys on Black Friday

It bears similarities to the flash-mob style thefts seen recently in California.

Karl-Anthony Towns

Timberwolves' winning streak snapped at five games

The Wolves' bid for their longest winning streak since 2014 came up short.

Screen Shot 2020-08-14 at 6.45.53 PM

Teen arrested over fatal shooting of 5-year-old boy in Brooklyn Park

Police say the teen was filming a social media video while handling a gun.

Joe Biden

President Biden coming to Minnesota to promote Bipartisan Infrastructure Law

Tuesday's trip follows passage of the $1.2 trillion Bipartisan Infrastructure Deal.

Related

Home prices continue to rise, Minneapolis among leaders

U.S. Home prices rose in June in all of the 20 cities tracked, according to the Standard & Poor's/Case-Shiller index. Minneapolis recorded one of the biggest one-month gains -- up 4.8 percent from May and 5.7 percent from June 2011.

Home prices continue to bounce back in Twin Cities metro

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.