Competition for scarce housing stock defined Minnesota’s real estate market in June, pushing the median sales price to a historic high of $325,000, up 18.9% above June 2020. Closed sales rose 12.9% over last year, and a surge of new listings brought 11,908 properties to the market, a 6.5% increase. According to Minnesota Realtors
Keep in mind these numbers are being compared with June 2020. As you may recall there were stay-at-home orders in place at that time and there was civil unrest and there were curfews.
Cash offers are on the rise and the demand for expensive housing is strong. Right now it seems like all housing is expensive. I would build some more if I could.