Minneapolis home prices rise in January 2020

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The median sale price of a home sold in January 2020 in Minneapolis rose by $36,550 while total sales decreased by 41.6%, according to BlockShopper.com.

In January 2020, there were 188 homes sold, with a median sale price of $286,500 - a 14.6% increase over the $249,950 median sale price for the same period of the previous year. There were 322 homes sold in Minneapolis in January 2019.

The median sales tax in Minneapolis for the most recent year with available data, 2015, was $2,968, approximately 1% of the median home sale price for January 2020.

The following table compares Minneapolis to other Hennepin County cities with similar median sales prices in January 2020:

City
Jan. 2020 Home Sales
Jan. 2019 Home Sales
% change (Total Home Sales)
Jan. 2020 Median Sales Price
Jan. 2019 Median Sales Price
% change (Median Sales Price)
Golden Valley
15
21
-28.6%
$325,000
$346,500
-6.2%
Maple Grove
41
45
-8.9%
$324,000
$268,725
20.6%
Bloomington
36
53
-32.1%
$302,450
$270,000
12%
St. Louis Park
31
42
-26.2%
$300,000
$282,000
6.4%
Mound
9
14
-35.7%
$300,000
$239,750
25.1%
Minneapolis
188
322
-41.6%
$286,500
$249,950
14.6%
Long Lake
1
2
-50%
$285,000
$520,000
-45.2%
Richfield
21
26
-19.2%
$274,000
$226,500
21%
Champlin
18
15
20%
$264,950
$264,000
0.4%
New Hope
6
15
-60%
$252,450
$240,000
5.2%
Hopkins
10
8
25%
$245,625
$314,500
-21.9%

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