Real estate agents sell thousands of homes in Minnesota for $2.2 million
The number of Minnesota real estate sales in the first nine months of the year has increased from the same period last year, with a record number of properties sold and a record increase in median sale prices, according to the real estate data company Zillow.
The median sale price in the state in January was $2,216,843, up from $2 and $1,848 in the same month last year.
Zillows numbers are based on Zillower data for the past three years.
The number of homes sold jumped by nearly 4 percent, to about 4,800 units.
Zilow says sales are up from a year ago and that the uptick in sales is driven by increased interest in buying, as well as the economic recovery.
Zillow says the median sale value for the first quarter of 2018 was $1.7 million, up $5,500 from the first three months of 2018.
Zellers data also showed that median sale values in March and April were up 3 percent and 1 percent respectively.
The median sales price for the fourth quarter of this year was $3,938, a 3.4 percent increase from the fourth-quarter of 2018 and the highest price since the third quarter of 2019.
Zellers numbers for the state’s metro area show that sales in January and February were up 9 percent and 11 percent, respectively.
Zills numbers show that the metro area is home to the nation’s fastest-growing housing market, with sales surging almost 16 percent from a previous quarter.
Zillerow said that in January 2018, 1,818 houses were sold.
Zillerow has seen a big increase in the number of new listings since the Great Recession.
Zilla reported a 13 percent increase in new listings during the same time period.
Zilledow expects the number to increase by more than 40 percent in 2019, with the average price of a new home in the metro region increasing by 17 percent.