Closed Sales for August Up More Than 100 Percent in Inver Grove Heights
The number of homes on the market is down 50.5 percent this year and the number of months homes are vacant before sale is also down 65.9 percent.
Real estate is officially a hot investment again. The Minneapolis Area Association of Realtors (MAAR) announced this morning that for the sixth consecutive month, local real estate prices were up in August on a year-over-year basis. The median price, regionwide, was up 15.5 percent from the same month last year, to $179,000. And the average sales price was $222,922, up 10.4 percent and marking the seventh consecutive month of annual increases. Even in the boom period from January 2003 to January 2004, median prices in the Twin Cities area were only increasing by about 7 percent a year. For Inver Grove Heights, August was a good month in a mediocre year. MAAR recorded 39 closed sales in IGH in August 2012 as compared to 19 in 2011. …
