National Mortgage News: Median sale price of Twin Cities home hits a record in October

National Mortgage News, November 21, 2019: Median sale price of Twin Cities home hits a record in October

Entry-level home buyers outnumbered sellers in the Twin Cities metro in October, boosting prices and stifling sales of houses priced at less than $300,000. For those willing to spend more than that, it was a radically different story — sales and listings of move-up properties increased double-digits.

During the month there was a 16% increase in sales of houses priced from $300,000 to $500,000, and a nearly 20% increase in closings on those priced from $500,000 to $1 million, according to a monthly sales report from the Minneapolis Area Realtors.

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