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.
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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."
Twin Cities metro area home sales and prices up in April
The number of closed sales last month rose 7.1 percent compared with last year, while the median price of those deals jumped 12.4 percent to $163,000.
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.
Twin Cities home sales prices climb 6.4 percent from a year ago
Finance & Commerce reports the median sales price in the 13-county metro area hit $149,000 in March. The 6.4 percent increase is the largest year-over-year gain since April 2010, but the current median price is still nearly 35 percent lower than the peak in March 2006.
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