2013 Twin Cities housing market posts biggest sales gain since 2005
- Blog Post by: Jim Buchta
- 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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