Just Listed brings you the latest news and information from the Twin Cities-area commercial and residential real estate market and beyond from veteran reporters Jim Buchta and Kristen Leigh Painter.

Home sales and prices up in Minnesota and across the country during April

Posted by: Jim Buchta under Buying Updated: May 22, 2012 - 10:34 AM

 

The state and national home sales reports for April are out this morning. Nationally sales were up 3.4 percent with the median prices rising 10.1 percent. In Minnesota sales increased 0.3 percent with sale prices up 11.5 percent.

Both reports mirror what the Star Tribune has already reported for the Twin Cities metro. In all three reports prices were up primarily because of a decline in the number of distressed sales, which caused the statistical shift in the median sales price. That means there were fewer houses sold at fire-sale prices and that there were more traditional deals, which tend to sell for higher prices.

Long-term that’s good news because it means better comparable sales for those underwater borrowers and other eager sellers who are waiting for prices to rise.

Here's a summary for April home sales

  • U.S. sales were up 3.4 percent to a 4.62 million-unit pace, with the median prices up 10.1 percent to $178,000.
  • Minnesota sales were up 0.3 percent with sale prices up 11.5 percent to $145,000.

ADVERTISEMENT

Connect with twitterConnect with facebookConnect with Google+Connect with PinterestConnect with PinterestConnect with RssfeedConnect with email newsletters

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT