The market update of threes! Everything is coming in sets of three this month, so that'll be the theme as we examine just what's going on in today's Twin Cities real estate market.
For starters, let's call out the major outlier here...average sale price for 2020 is now almost $100k higher than it was this time in 2019 - wow! August last year was just under the$290k mark, and for this year we are broaching almost $380k. While it has certainly been a difficult year to track, there is no doubt that the limited home inventory this year has caused a surge in home prices like no other.
As for our other indicators, most everything seems to be happening for the third month in a row. New listings are slightly up over last month, and at the same pace…