Minneapolis St Paul area home values continue to rise
Twin Cities area median home prices continue their creep upward, increasing 4.9 percent compared with October of last year.
Housing inventory declined 25.6 percent, to a 3.2-month supply. Generally, five to six months is considered balanced. While the bulk of the metro as a whole is favoring sellers, not all areas, segments and price points reflect that.
The median list price in the metro rose 4.4 percent to $240,000, while average price per square foot rose 3.2 percent to $127, according to The Minneapolis Area Association of Realtors.
Less foreclosures, less homes underwater, less homes on the market, and attractive mortgage interest rates have all combined to push home values nicely higher
The October median sales price was $218,000 according The St. Paul Realtor Association.