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June 2021 Housing Report

By MNR News posted 07-13-2021
As closed sales rise and inventory shrinks, new listings can’t keep pace

Competition for scarce housing stock defined Minnesota’s real estate market in June, pushing the median sales price to $325,000, up 18.9% above June 2020, according to Minnesota Realtors® (MNR), the membership organization supporting all 22,000 Realtors in the state. Closed sales rose 12.9% over last year, and a surge of new listings brought 11,908 properties to the market, a 6.5% increase. In a key indicator of the frenzied sales activity, days on the market sank 45.7% to just 25 days—a historic low. Overall, the state’s number of homes for sale were down 40.8% compared to last June, with only 1.2 months of supply available. On average, sellers were getting 103.2% of the asking price, pushing the average sales price to $367,753, +9.3% above 2020. This is an unprecedented milestone.

“The market continues to be highly dynamic but it’s constrained by the number of affordable—and desirable—homes for sale,” said Chris Galler, CEO of Minnesota Realtors. “Rising home prices, competitive bidding, and cash offers are squeezing out many first-time homebuyers. Unfortunately, our ability to create more housing is limited by a complex interplay of factors, from construction costs to government regulations. Based on the numbers, it’s a trend that will continue playing out for the foreseeable future in Minnesota.”

June year-over-year summary:

  • Closed sales: +12.9% to 10,386
  • Median sales price: +18.9% to $325,00
  • Average sales price: +19.3% to $367,753
  • New listings: +6.5% to 11,908
  • Pending sales: -7.0% to 9,620
  • Days on the market: -45.7% to 25 days
  • Homes for sale: -40.8% to 10,227

Closed Home Sales Across Minnesota by Region

Eight of the state’s 13 regions reported increases in closed sales compared to June 2020, with four regions seeing double-digit growth, including an increase of 20.6%  in the seven-county Twin Cities. There were declines in five regions, with double-digit drops in the Upper MN Valley, 11.6%; West Central, 13.1%; and North Central, 15.0%. See the chart below for more details comparing closed home sales for June 2021 to June 2020.

June 2021 Housing Stats by Region

The seven-county Twin Cities region comprises Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington counties. The official Minneapolis-St. Paul-Bloomington metropolitan statistical area recognized by the Census Bureau consists of 16 counties, on which MAR & SPAAR local associations report.

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Summer Homeowner Checklist

By MNR News posted 07-06-2021

Staying Cool and Helping the Planet 💦☀️🌍


Summertime is officially here! And while the summer months are great for ice cream and time at the lake, it’s also an important season to keep up with home maintenance.


Here are some tips for keeping your home cool, helping the planet, and saving money.


Staying Cool


Maintain the air conditioner

Just as you maintain your heater in the winter, make sure your air conditioner is in tip-top shape for hot weather. Always remember to:


  • Change the filter in the air-to-air converter
  • Change furnace filter for air conditioning
  • Wash out the air conditioner condenser
  • Vacuum any debris blocking the air filter


Cool ways to conserve energy

There are many ways to keep your home cool in the summer that are not only great for your pocketbook, but also super helpful for conserving energy and helping the environment.


  • Keep your blinds closed to create a cave-like effect. This will make your rooms naturally cooler
  • Make sure your vents are not blocked by furniture or rugs
  • Though it can be tempting to crank the air to max cold, having the thermostat set 5-8 degrees warmer will help you save money and conserve energy, with 78 being the most energy efficient temperature
  • Get an energy audit to assess where cool air is escaping and letting hot air in


Water, Water Everywhere



Our lawns and gardens need water to grow and thrive, but there are many ways to keep your gardens happy while saving on water.


  • Water your garden with a hose rather than a sprinkler system – that way you can spend some one-on-one time with your garden while making sure you’re not overwatering. Or, if you have a sprinkler system, minimize the watering time for each zone of your yard, and adjust the sprinkler heads to ensure they water grass—not pavement (or pedestrians!). Also, attach a rain sensor to automatically turn off your sprinklers when it is raining.
  • Set up a rain barrel to catch water from your gutters to water your plants and flowers
  • Water your gardens & lawns in the mornings or afternoons



Saving water inside the home is easy with a bit of awareness and a few adjustments. Here are some tips for water conservation in the home:


  • Take shorter showers
  • Don’t leave your water running while doing dishes or brushing your teeth
  • Install water-saving sink and shower heads
  • Only run your dishwasher when it’s full and limit how often you run it