The median sale price of a home sold in the first quarter of 2017 in Medina rose by $87,000 while total sales decreased by 24.1%, according to BlockShopper.com.
From January through March of 2017, there were 22 homes sold, with a median sale price of $620,000 – a 16.3% increase over the $533,000 median sale price for the same period of the previous year. There were 29 homes sold in Medina in the first quarter of 2016.
The median sales tax in Medina for the most recent year with available data, 2015, was $5,848, approximately 0.9% of the median home sale price for the first quarter of 2017.
The following table compares Medina to other Hennepin County cities with similar median sales prices in the first quarter of 2017:
| City | Jan. – Mar. 2017 Home Sales | Jan. – Mar. 2016 Home Sales | % change (Total Home Sales) | Jan. – Mar. 2017 Median Sales Price | Jan. – Mar. 2016 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Greenwood | 1 | 2 | -50% | $1,325,000 | $1,835,000 | -27.8% |
| Minnetonka Beach | 1 | 3 | -66.7% | $722,900 | $1,305,000 | -44.6% |
| Spring Park | 2 | 4 | -50% | $641,775 | $392,500 | 63.5% |
| Medina | 22 | 29 | -24.1% | $620,000 | $533,000 | 16.3% |
| Orono | 36 | 44 | -18.2% | $606,000 | $557,500 | 8.7% |
| Independence | 9 | 7 | 28.6% | $570,000 | $531,230 | 7.3% |
| Wayzata | 14 | 27 | -48.1% | $551,622.50 | $485,000 | 13.7% |
| Edina | 138 | 139 | -0.7% | $499,000 | $447,500 | 11.5% |
| Shorewood | 29 | 31 | -6.5% | $497,500 | $365,000 | 36.3% |
| Excelsior | 11 | 10 | 10% | $495,000 | $315,900 | 56.7% |
| Tonka Bay | 6 | 3 | 100% | $489,500 | $299,900 | 63.2% |
