From January through March of 2018, there were 11 homes sold, with a median sale price of $510,525 - a 10.4% decrease over the $570,000 median sale price for the same period of the previous year. There were nine homes sold in Independence in the first quarter of 2017.
The median sales tax in Independence for the most recent year with available data, 2015, was $5,414, approximately 1.1% of the median home sale price for the first quarter of 2018.
The following table compares Independence to other Hennepin County cities with similar median sales prices in the first quarter of 2018:
| City | Jan. - Mar. 2018 Home Sales | Jan. - Mar. 2017 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2018 Median Sales Price | Jan. - Mar. 2017 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Wayzata | 24 | 14 | 71.4% | $755,929.50 | $551,622.50 | 37% |
| Medina | 28 | 22 | 27.3% | $670,000 | $620,000 | 8.1% |
| Medicine Lake | 2 | 0 | - | $612,223.43 | $0 | - |
| Orono | 41 | 36 | 13.9% | $587,500 | $606,000 | -3.1% |
| Shorewood | 25 | 29 | -13.8% | $545,000 | $497,500 | 9.5% |
| Independence | 11 | 9 | 22.2% | $510,525 | $570,000 | -10.4% |
| Edina | 134 | 138 | -2.9% | $474,950 | $499,000 | -4.8% |
| Excelsior | 7 | 11 | -36.4% | $460,000 | $495,000 | -7.1% |
| Deephaven | 9 | 6 | 50% | $425,000 | $458,500 | -7.3% |
| Minnetrista | 41 | 50 | -18% | $403,000 | $406,141.50 | -0.8% |
| Eden Prairie | 143 | 135 | 5.9% | $368,000 | $337,000 | 9.2% |
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