From January through March of 2017, there were nine homes sold, with a median sale price of $570,000 - a 7.3% increase over the $531,230 median sale price for the same period of the previous year. There were seven homes sold in Independence in the first quarter of 2016.
The median sales tax in Independence for the most recent year with available data, 2015, was $5,414, approximately 0.9% of the median home sale price for the first quarter of 2017.
The following table compares Independence 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% |
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