In September, the median sale price of a home in Hennepin County fell by $10,000 from the same period in the previous year, while total sales decreased by 29.2%, according to BlockShopper.com.
There were 845 homes sold in September, with a median sale price of $375,000 – a 2.6% decrease from the $385,000 median sale price for the same period of the previous year. Data shows 1,193 homes sold in Hennepin County in September 2023.
Based on the latest available data from 2024, the median sales tax in Hennepin County was $4,795, which stands at 1.3% of September’s median home sale price.
The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market’s value in 2000.
“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.
The following histogram displays changes in median sales prices in Hennepin County from September 2023 to September 2024.
