Home Prices in the Twin Cities Continue to Rise
The Twin Cities metro region just experienced one of its strongest spring housing markets in years. Home prices are continuing to rise here and across the nation. Some areas are seeing prices back to pre-crash levels, and some even higher than that period of time.
The S&P/Case-Shiller Home Price Indices recently released showed that home prices among the 13-county Twin Cities metro area are continuing to rise. Even with prices increasing we are still far from the peak in prices seen prior to the housing bust.
In the month of April the index rose by 3.19 percent to 142.78. This gain is slightly below the nation average of year-over-year gains. According to the Minneapolis Area Association of Realtors during the month of May the median home sale price was $224,000. In comparison, the previous high we saw in June of 2006 was $238,000.
We are continuing to see a seller’s market in the Twin Cities. If you are looking to buy or sell a home this summer contact me. Our group specializes in Eden Prairie Real Estate,Chanhassen Real Estate,Chaska Real Estate,Lake Minnetonka Real Estate,Edina Real Estateand West Bloomington Real Estate.
Brace Helgeson Coldwell Banker Burnet
Licensed in Minnesota/Lic # 92065