The heated summer sales season is showing signs of cooling, as closed sales of residential homes in Minnesota declined 3.0% compared to August 2020.
Despite shrinking inventory, buyers scrambled to purchase homes, competing with multiple offers that drove the median sales price up 11.3% to $316,000. The number of homes for sale declined 25.0%, leaving a 1.5-month supply of properties for sale.
Read the full report: https://bit.ly/MNR_Aug21HousingReport
When buying or selling a home, it's important to understand the market and gain helpful insights to help you achieve the best results.