Twin Cities Real Estate Surges
Hopkins saw more modest growth last month.
Real estate is officially a hot investment again. The Minneapolis Area Association of Realtors (MAAR) announced last week 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. Hopkins saw more modest improvements. The median price ticked up .6 percent, and the average price grew by 3.2 percent. Meanwhile, the average home stayed on …
