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Median home price for Twin Cities metro hits record $337,000
That s 10.5% higher than a year ago.
Author:
The median home price in the 16-county metro is a whopping $337,000 the highest on record.
That s according to new data from the Minneapolis and St. Paul area realtors associations, which say the median home price in April 2021 is 10.5% higher than it was in April 2020.
For reference, the median home price in the Twin Cities in 2019 was $280,000 - which was, at the time, a record-high.
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Not only are homes selling for more, but they re spending less time on the market. Half of the homes for sale go under contract within eight days of being listed, which is the fastest time in at least 14 years.
Twin Cities area homebuilders scramble in wild market
Twin Cities area homebuilders scramble in wild market Lots for new homes in metro area are in short supply and prices are soaring along with demand. May 1, 2021 8:00am Text size Copy shortlink:
Think buying a house is like a combat sport these days? Try building one.
Building sites are in short supply, the cost of materials is soaring and there s a dearth of skilled subcontractors at a time when sales are off the chart.
So are prices. The median price of a new house in the Twin Cities has risen more than $4,000 each of the past three months, as builders struggle to balance a surge in demand with volatile costs that are forcing many to put a lid on sales.
With price tags in the millions, Minneapolis tower s condos are hot commodity
With price tags in the millions, Minneapolis tower s condos are hot commodity An uptick in Minneapolis condo market is reflected in the popularity of a 42-story building that won t open for a year. April 21, 2021 12:51pm Text size Copy shortlink:
The developers of the 42-story Eleven on the River condo tower in downtown Minneapolis recently gathered to celebrate the topping off what is now the tallest and one of the most expensive residential buildings in the city. On average buyers will have to spend $1,000 per square foot or $3 million per unit to live in the building, which will be decked out with classic touches including paneled walls, marble counters and herringbone floors.