November home sales up 20% in the Twin Cities; prices up, too

  • Blog Post by: Jim Buchta
  • December 12, 2012 - 11:01 AM

Home sales in the Twin Cities metro during November posted a whopping 20 percent increase over last year - one of the biggest year-over-year gains in several months.

Prices rose significantly, too.

The median price of all closings was up more than 15 percent in large part because the mix of what's selling has changed. There's been a big decline in heavily discounted foreclosure sales and an increase in traditional sales, which has skewed the median upwards. 

When you consider various statistical factors, including seasonality and the mix of what's selling, prices were up a more modest, but robust, 9 percent. 

Here's alink to the full report, and we'll have a more complete story in the Thursday paper. 

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