Minnesota Real Estate Market Remains Strong
Rochester, MN (KROC AM News) - Existing home sales and prices continued to grow in Minnesota last month.
The latest statistics reported by the Minnesota Association of Realtors show the number of closings on sales of existing homes in the state in July were up over 18.5-percent from a year ago and the median sales price rose 4.3-percent to just over $200,000.
Through the first seven months of the year, the association’s report shows there have been over 47,000 closings, which is about 7000 above the total reported at the end of July last year.
The real estate market was especially strong in southeastern Minnesota in July. The report shows a 30-percent increase in the number of closings on existing home sales when compared to July 2014, while the median sales price was up about 4-percent at $161,000.