Home sales, prices increased in March

Spring is shaping up as a very healthy season for Twin Cities home sales, local Realtors report.

Home sales rose 10.9 percent, to 4,028 and the median price rose 7.1 percent to $203,000 in March. That compares to home sales of 3,633 and a median price of $189,500 in March of 2003.

Those increases made this the best March on record for closed sales in the 13-county metropolitan area, the Realtor Public Policy Partnership said in a news release.

New listings were up 22.4 percent to 8,981 and pending sales rose 21.6 percent to 6,542. Pending sales are sales for which purchase agreements have been signed, but sales have not yet closed.

"Strengthened by early warm temperatures and the Parade of Homes, March was a great month for home sales," said Jerry Koch, President of the North Metro Realtors Association. "All indicators are that the robust market we saw in March will continue throughout the spring."

Counties with the greatest increases in closed sales this March include: Sherburne (47.7 percent), Ramsey (23.4 percent), and Anoka (22.3 percent).

Washington County logged the greatest increase in median price with an increase of 16.9 percent to $229,850 this March compared to March 2003.

Housing statistics include existing single-family homes, condominiums and townhomes. The statistics are based on closed existing home sales as reported by the Regional Multiple Listing Service.