Independence home prices rise in the third quarter of 2020

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The median sale price of a home sold in the third quarter of 2020 in Independence rose by $188,235 while total sales decreased by 37.5%, according to BlockShopper.com.

From July through September of 2020, there were 10 homes sold, with a median sale price of $647,500 - a 41% increase over the $459,265 median sale price for the same period of the previous year. There were 16 homes sold in Independence in the third quarter of 2019.

The median sales tax in Independence for the most recent year with available data, 2019, was $5,374, approximately 0.8% of the median home sale price for the third quarter of 2020.

The following table compares Independence to other Hennepin County cities with similar median sales prices in the third quarter of 2020:

CityJuly - Sept. 2020 Home SalesJuly - Sept. 2019 Home Sales% change (Total Home Sales)July - Sept. 2020 Median Sales PriceJuly - Sept. 2019 Median Sales Price% change (Median Sales Price)
Minnetonka Beach15-80%$1,980,000$1,682,50017.7%
Greenwood35-40%$1,150,000$1,070,0007.5%
Wayzata1216-25%$709,950$992,500-28.5%
Excelsior39-66.7%$680,000$600,00013.3%
Orono3260-46.7%$661,500$670,500-1.3%
Independence1016-37.5%$647,500$459,264.5341%
Medina1938-50%$641,250$618,652.503.7%
Edina140233-39.9%$586,250$589,900-0.6%
Deephaven1827-33.3%$558,707$715,000-21.9%
Shorewood2638-31.6%$511,750$437,00017.1%
Minnetrista4656-17.9%$475,354$412,49515.2%

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