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.

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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