Median Price Soars; Closing Increase Sharply

Twin Cities home prices bounced up in April with the largest jump since before the housing market meltdown.

A shrinking supply of homes on the market and the reappearance of multiple offers helped drive the median sales price up 12.4% to $163,000 over the previous April.

That’s the largest increase since January 2004, the Minneapolis Area Association of Realtors® said in its monthly report Thursday May 10>

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