The median sale price of a home sold in the third quarter of 2018 in Minneapolis rose by $14,900 while total sales increased by 18.6%, according to BlockShopper.com.
From July through September of 2018, there were 1,725 homes sold, with a median sale price of $259,900 – a 6.1% increase over the $245,000 median sale price for the same period of the previous year. There were 1,454 homes sold in Minneapolis in the third quarter of 2017.
The median sales tax in Minneapolis for the most recent year with available data, 2015, was $2,968, approximately 1.1% of the median home sale price for the third quarter of 2018.
The following table compares Minneapolis to other Hennepin County cities with similar median sales prices in the third quarter of 2018:
| City | July – Sept. 2018 Home Sales | July – Sept. 2017 Home Sales | % change (Total Home Sales) | July – Sept. 2018 Median Sales Price | July – Sept. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| St. Louis Park | 256 | 173 | 48% | $305,000 | $295,000 | 3.4% |
| Maple Grove | 338 | 329 | 2.7% | $298,342.50 | $298,597 | -0.1% |
| Bloomington | 369 | 278 | 32.7% | $275,000 | $255,150 | 7.8% |
| Hopkins | 68 | 54 | 25.9% | $270,000 | $242,475 | 11.4% |
| Champlin | 100 | 104 | -3.8% | $260,000 | $245,000 | 6.1% |
| Minneapolis | 1,725 | 1,454 | 18.6% | $259,900 | $245,000 | 6.1% |
| Mound | 65 | 58 | 12.1% | $250,000 | $225,000 | 11.1% |
| Richfield | 174 | 156 | 11.5% | $250,000 | $239,650 | 4.3% |
| Brooklyn Park | 371 | 324 | 14.5% | $245,000 | $235,450 | 4.1% |
| New Hope | 94 | 68 | 38.2% | $240,000 | $247,450 | -3% |
| Loretto | 5 | 3 | 66.7% | $229,900 | $367,000 | -37.4% |
