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Minneapolis Review

Friday, November 15, 2024

Hennepin County home prices fall in August 2024 compared to August 2023

Re 14

In August, the median sale price of a home in Hennepin County fell by $2,000 from the same period in the previous year, while total sales decreased by 31%, according to BlockShopper.com.

Data shows that there were 978 homes sold in August, with a median sale price of $400,000 - a 0.5% decrease from the $402,000 median sale price for the same period of the previous year. There were 1,417 homes sold in Hennepin County in August 2023.

For context, the median sales tax in Hennepin County, based on the latest available data from 2021, was $4,220, which stands at 1.1% of August's median home sale price.

The following histogram displays changes in median sales prices in Hennepin County from August 2023 to August 2024.

August 2023September 2023October 2023November 2023December 2023January 2024February 2024March 2024April 2024May 2024June 2024July 2024August 2024$402,000$402,000$385,000$385,000$375,000$375,000$367,500$367,500$340,000$340,000$350,000$350,000$360,000$360,000$360,000$360,000$391,250$391,250$390,000$390,000$400,000$400,000$391,141$391,141$400,000$400,000

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