While the median sales price of homes in the Twin Cities was up 14.3 percent to $179,950 during July, the median price in exceeded even that figure, jumping more than 23 percent to $197,400.
It also exceeds June's 3-percent increase. But the trend for the past handful of months has continued to be "up," as demonstrated by May's 16.1 percent increase to a median $171,450, and April's more than 42 increase from the median price in April of last year—$195,000 compared to $137,000.
A year ago July, the median sales price of an Apple Valley home was $160,000.
New listings were up slightly, and closed sales were down slightly. The 236-home inventory is well below July 2011, when there were 354 homes on the market.
See the attached PDF for more about July real estate in Apple Valley.
Read more about the Twin Cities real estate market's July performance from the Minneapolis Area Association of Realtors.