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 Janet Moore.

2013 Twin Cities housing market posts biggest sales gain since 2005

Posted by: Jim Buchta under Buying Updated: January 13, 2014 - 11:13 AM

It was a banner year for the Twin Cities housing market, with sales last year increasing 8.8 percent and the median price of those sales up 14.4 percent to $192,0,000. That was the most sales since 2005 and the highest median price in five years, according to year-end figures from the St. Paul and Minneapolis Area Associations of Realtors.

Other highlights from the year-end report:

  • Listings were up 9.4 percent and the first gain in seven years.
  • Total inventory fell 10.5 percent to 11,646 to the lowest level in 11 years.
  • Houses took less time to sell, with the average house taking 83 days to sell, a 29 percent decline from last year.

We'll have a full report, including 2014 predictions, online and in the Tuesday paper.

- Jim Buchta

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