What happened to the median home price in Minneapolis during January 2021?

Medium realestate4

The median sale price of a home sold in January 2021 in Minneapolis rose by $25,689 while total sales decreased by 51.6%, according to BlockShopper.com.

In January 2021, there were 118 homes sold, with a median sale price of $304,389 - a 9.2% increase over the $278,700 median sale price for the same period of the previous year. There were 244 homes sold in Minneapolis in January 2020.

The median sales tax in Minneapolis for the most recent year with available data, 2019, was $3,937, approximately 1.3% of the median home sale price for January 2021.

The following table compares Minneapolis to other Hennepin County cities with similar median sale prices in January 2021:

CityJan. 2021 Home SalesJan. 2020 Home Sales% change (Total Home Sales)Jan. 2021 Median Sales PriceJan. 2020 Median Sales Price% change (Median Sales Price)
St. Anthony12-50%$334,000$194,707.5071.5%
St. Louis Park1644-63.6%$311,725$302,2503.1%
Brooklyn Park2062-67.7%$278,999.50$245,00013.9%
Brooklyn Center1117-35.3%$275,000$195,00041%
New Hope79-22.2%$273,500$249,9009.4%

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