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Twin Cities' Home Prices: Record Highs

  • Nick Leyendecker
  • 02/28/17

Twin Cities Market Update: 2017 - Q1

Scroll down for interactive charts of prices, inventory, and sales activity.
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February home sales activity resulted in the 59th consecutive, month-over-month gain for Twin Cities and U.S. home prices with median prices now breaking through to new, historical highs. This current cycle marks one of the longest-lasting and most aggressive rises in home prices in U.S. history.

With single-family home inventory in the Twin Cities at an all-time low and pending sales at a 10-year high, there has never been a more opportune time to be a seller, nor a more challenging time to be a buyer. The average sales price vs. list price in the Twin Cities rose above 99% last September and has remained there ever since, as a majority of pending sales receive multiple offers. These bull market trends are showing no signs of a slowdown or a reversal, at least not in the foreseeable future.

My Opinion: Why are home prices rising so fast?

National Home Prices

Twin Cities Market Data

Twin Cities Market Stats:

Median Home Price: $233,500 - A record high

# of Homes for Sale: 12,502 - A record high

# of Pending Home Sales: 60,243 - A 10-Year High

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