Minneapolis home values have posted the 3rd largest gains in home values on a year over year basis according the the latest S&P/Case-Shiller Home Value Indicies with a 7.4 percent increase.

Additionally, the Minneapolis Area Association of Realtors have posted a 12.7 percent increase for the median sales price of a home in the Twin Cities Metro with the current median sales price sitting at $174,625.

Why Are Home Values Increasing In Minneapolis?

The reason home values are increasing in the Minneapolis area is simple, we have a lack of new home listings and an over abundance of qualified home buyers.

According to the Minneapolis Area Association of Realtors, new home listings are 3.0 percent from one year ago and pending home sales are up a whopping 11.1 percent from one year ago.