Twin Cities median home sales prices jump 12.7% in June to $355,000

The median sales price for homes in the Twin Cities rose to $355,000 in June, a 12.7 percent increase from a year before, according to data released Tuesday by the Minnesota Realtors Association.

Meanwhile, pending home sales rose 0.4 percent to 5,663 in the seven-county metro area in June while closed sales jumped 20.6 percent to 6,185 for the month. The number of new listings rose 10.5 percent to 7,000.

The median of days homes spent on the market in June was 20 days, a drop from 32 in June 2020.

In an unprecedented milestone, sellers statewide were getting 103.2 percent of their asking price, pushing the average sales price to $367,753 — 9.3 percent above 2020. In the metro, sellers were getting 104.3 percent of the asking price.

“The market continues to be highly dynamic, but it’s constrained by the number of affordable — and desirable — homes for sale,” Chris Galler, CEO of Minnesota Realtors said in a statement.

Overall, the state’s number of homes for sale were down 40.8 percent compared with last June, with only 1.2 months of supply available.

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