Home sales are up!

Reports on the local housing market are in. The good news is that signed purchase agreements in the Twin Cities are up 16 percent from last July. Closed sales are up 36 percent.

More good new for home buyers – housing prices continue to fall. The median price for July was $171,000. That’s a drop of 18 percent from last year and 27 percent from 2007.

Median price is taking a hit form the large number of foreclosed properties on the market. The number is lower than earlier this year – but is still higher than we’d like to see.

For more info check out the Star Tribune.

Submitted by exclusive home buyer agent, Mary Rugani

This entry was posted in MN Housing Market, Twin Cities Area. Bookmark the permalink.