Medina, MN Average Sales Price Up 4% – Sales Volume Down 25%
Medina, MN continues to experience softer sales in 2007 as overall sales volume are off by 25% compared to 2007. Average sales prices remain healthy at nearly $820,000 up 4% YOY.
In Medina’s case, it’s not that surprising to see the average prices holding despite the drop sales volume. Given that many of the homes that have sold are in upper bracket neighborhoods like Wild Meadows, Foxberry Farms, and Bridgewater, it’s likely that the average prices will remain healthy. On top of that, you can’t build a single family home in Medina for under $800,000 today, that should act as a strong floor for prices.Â
Bridgewater at Lake Medina is the latest large development in Medina. There are still approximately 70 lots left for sale. Home packages range from about $800,000 – $1,300,000.Â
