Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Home Price Increases in the Twin Cities Show Healthy Strides
  • USA - English


News provided by

Home Destination: Real Estate

Sep 12, 2014, 15:05 ET

Share this article

Share toX

Share this article

Share toX

Home Price Increases in the Twin Cities
Home Price Increases in the Twin Cities

Minneapolis, Twin Cities Minnesota (PRWEB) September 12, 2014 -- The median home sales price in the Minneapolis metro rose to $219,001 in August, reversing a brief interruption in upward home price trends that appeared in July and continues an overall positive trend in higher home price appreciation. As home price increases in the Twin Cities show stability, prospective Twin Cities home buyers are reaching deep to buy another home. According to a new Minneapolis Area Association of Realtor (MAAR) report, this maintains a 7-year high and shows steady housing recovery progress.

The housing market, like the broader economy here in Minnesota, is experiencing a healthy and moderate slow, sustainable growth recovery. ~ said Michael Hunstad, president of the St. Paul Area Association of Realtors.

Post this

"Just as Minnesota temperatures and leaf colors are changing, likewise shifts in home sales in the Twin Cities are trending with seasonal changes. The market seems remarkably buoyant to record upward movement in both the number of real estate listings and home price appreciation, even though home sales are down," says Jenna Thuening, owner of Home Destination.

August recorded 5,291 home closings in the Twin Cities 13-county metro area, which is 7.3 percent under last years number, according to the Minneapolis Area Association of Realtors. The median sales price for the Minneapolis and St. Paul 13-county metropolitan area was $219,001 in August, gaining 5.3 percent over August 2013. Regardless of lower numbers in overall home sales, home sellers gained a median price at closing with 5.3 percent improvement. The average median sales prices in the Twin Cities benchmarked at $219,001, recording the 30th consecutive monthly uptick and the highest median home sales price for any August since 2007.

Overall closed sales were down 7.3 percent, year-on-year, to 5,291 last month from 5,705, but with fewer of those were lender-mediated, or distressed, sales, data from the St. Paul and Minneapolis area associations of Realtors show.

In 2013, approximately 21 percent of all metro home closings were lender mediated one year ago, while in August 2014 that percentage was 10.58%. Lender mediated, or buyers who purchased distressed properties in the Twin Cities are either foreclosed home sales or short sales, where the Twin Cities home seller's mortgage balance owed exceeds the home's value. These properties can drag down median prices. But their share of the market is in a steady decline since the housing bust drew to a close. Home closings in this category dropped in August to 50.4 percent for foreclosures and 58.0 percent for sold homes in short sale.

A welcome increase of 9 percent in additional real estate listings available to choose from on the market creates home shopping conditions that are more even. "The market is still rebalancing," remarked Emily Green, president of the Minneapolis association, in a news release. "Buyers and sellers really need to dig into their particular market segment and location with their agent to get the best information, because the overall picture is shifting and that can cause confusion."

Housing inventory in the Twin Cities pushed upward by 8.7 percent over the same month in 2013, reaching 18,205 homes listed for sale. New real estate listings were unremarkably changed, increasing a mere 0.1 percent to 6,958, where overall housing market pending home sales lowered 7 percent to 4,802.

The level of foreclosed homes in the Twin Cities metro has improved to near prerecession numbers, which is a positive stride for struggling homeowners in Minneapolis residential neighborhoods formerly troubled by vacant homes and declining property values. One positive result of fewer huge discounts in original home price listings is that sellers can expect better competition and chances to receive their full asking price. We see dwindling numbers of out-of-state residential investors in Twin Cities real estate as listings that fit the category of bargain fixer-upper homes are slimmer.

"As we are experiencing an overall positive trend in higher home price appreciation across the Twin Cities metro, both home sellers and buyers find advantages," adds Thuening.

About Home Destination - Twin Cities Real Estate:
Home Destination offers a loyal and committed real estate professional service that personally handles all the details of selling or purchasing a Twin Cities home. Highly regarded by peers as a Minneapolis metro expert for over 15 years, gain a skilled representative as guide to make the best possible housing decisions. Helping all ages, from Millennial home buyers to retiring seniors, Jenna Thuening offers the real estate experience buyers and sellers benefit from.

Contact:
Jenna Thuening
Web. http://www.homedestination.com
Email. jenna(at)homedestination(dot)com
Tel. 612-396-7832

Jenna Thuening, Home Destination: Real Estate, http://www.homedestination.com, +1 612-396-7832, [email protected]

Modal title

Twin Cities Home Prices Maintain Near 7-Year High
View PDF
Twin Cities Home Prices Maintain Near 7-Year High
Twin Cities Home Prices Maintain Near 7-Year High

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.