• Font Size    
E-mail

Close Window E-mail This Page

Home Sales Up, Median Prices Down In Metro

Required fields are marked with an asterisk(*)

The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications. Read more in our Privacy Policy

Send E-mail

   Print     Share +   
Aug 12, 2009 1:55 pm US/Central

Home Sales Up, Median Prices Down In Metro

MINNEAPOLIS (AP) ― Home sales in the Minneapolis market continue to rise while median sale prices are dropping.

The Minneapolis Area Association of Realtors said pending home sales increased 6 percent in July compared to the same month last year. Nearly 5,200 homes were sold. The association said it's the 13th consecutive month of rising sales.

Median sale prices however, are declining. The median price for a home in the Minneapolis area in July fell 17 percent to about $171,000.

The association said the increased number of foreclosed homes on the market caused the median price to drop. About 44 percent of pending home sales involved short sales and lender-mediated foreclosures.

Information from: Star Tribune

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

© MMIX, CBS Broadcasting Inc. All Rights Reserved.