Skip to main content

Prices, listings up, sales down in monthly housing report

  • Author:
  • Updated:

The Twin Cities metro housing market saw another monthly increase in price and the number of listings last month, but the number of closed sales were down.

The Pioneer Press reports that according to data released Monday by area real estate associations, new listings in the Twin Cities area were up 8.9 percent over June of 2013. The median price rose by 4.7 percent and now stands at $219,000, which is the 28th consecutive month that prices have risen. The Star Tribune story notes that home prices in the metro market are increasing faster than the national average, citing data from the latest Case-Shiller report.

In June there were more houses for metro buyers to choose from, and houses sold more quickly. June saw an 8.9 percent increase in the number of houses on the market and the average number of days on the market before a home sells is the shortest time since 2006 at 69 days; that's 7 percent faster than last year.

But June sales were down 2.2 percent to 5,531 sales, and year-to-date closed sales are down 9.2 percent compared with the halfway point last year. The Star Tribune story notes that the year-to-year sales figures still reflect the impact of the harsh winter, which caused double-digit declines in closings in the first months of the year and then delayed the spring selling season.

The Star Tribune analysis noted that despite that, there is continued optimism about the state of the residential housing market at the halfway point in the year. In June, distressed properties made up 9.5 percent of new listings and 12.6 percent of closed sales; MPR notes that's the lowest number since 2007. There has also been a decline in foreclosures and short sales. CoreLogic recently said the average foreclosure rate in the metro area is below the national average.

“With supply up and demand for foreclosures virtually disappearing, price growth may moderate but should remain positive,” said Emily Green, president of the Minneapolis Area Association of Realtors.

Next Up

Screen Shot 2022-01-27 at 9.15.45 PM

Buckeyes crash the glass, fend off Gophers

E.J. Liddell dominated in the paint to help No. 16 Ohio State.

nicolas blouin flickr fire hose

Fire departments decry drivers running over hoses, endangering crews

It happened in two separate Northland cities this week.

All Energy Solar - Bringing Panels to Roof

All Energy Solar reaches growth milestones with higher goals yet for 2022

Minnesota solar company continues to thrive through building a strong workforce

Royal Canadian Mounted Police maintoba crossing crop

Authorities ID family found frozen to death at MN-Canada border

They're still trying to unravel how they got there and who might have helped them.


Mayo Clinic specialist: 'The omicron surge is not over'

Experts expect a rapid decline over the next month followed a period of calm.

police lights

Charges: Man in stolen Jeep leads police on 110 mph chase

He crashed into a light post near the Capitol and then fled on foot, the complaint says.

kua dog go fund me

Puppy in back of stolen Audi found, reunited with owner

The 4 1/2-month-old bullmastiff had been missing more than a week.

Fuzzy Gerdes Flickr Franks Diner Kenosha

WI's best 'hole-in-the-wall' diner is Guy Fieri-approved

Come for the "garbage pile," stay for ... even more breakfast food.


Minnesota's pre-pro women's soccer team unveils name, logo

The new name and look was unveiled after community owners voted on a winner.

fentanyl DEA

21 people charged in connection to drug trafficking in northern MN

Police say the organization sold more than 10 pounds of heroin and fentanyl in northern Minnesota.

Band Box Diner Courtney Mault Flickr

MN's 'best hole-in-the-wall diner' is, sadly, currently closed

MSN recently published its pick for best diner in each state.