From January through March of 2020, there were seven homes sold, with a median sale price of $615,000 - a 64% increase over the $375,000 median sale price for the same period of the previous year. There were 14 homes sold in Independence in the first quarter of 2019.
The median sales tax in Independence for the most recent year with available data, 2019, was $5,901, approximately 1% of the median home sale price for the first quarter of 2020.
The following table compares Independence to other Hennepin County cities with similar median sales prices in the first quarter of 2020:
| City | Jan. - Mar. 2020 Home Sales | Jan. - Mar. 2019 Home Sales | % change (Total Home Sales) | Jan. - Mar. 2020 Median Sales Price | Jan. - Mar. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Minnetonka Beach | 1 | 2 | -50% | $725,000 | $1,840,000 | -60.6% |
| Deephaven | 11 | 9 | 22.2% | $703,800 | $651,000 | 8.1% |
| Spring Park | 4 | 1 | 300% | $664,250 | $630,000 | 5.4% |
| Excelsior | 5 | 5 | 0% | $658,500 | $595,000 | 10.7% |
| Tonka Bay | 3 | 5 | -40% | $640,000 | $680,000 | -5.9% |
| Independence | 7 | 14 | -50% | $615,000 | $375,000 | 64% |
| Medicine Lake | 3 | 3 | 0% | $574,000 | $1,105,000 | -48.1% |
| Medina | 23 | 23 | 0% | $552,000 | $600,000 | -8% |
| Edina | 108 | 120 | -10% | $526,500 | $524,500 | 0.4% |
| Shorewood | 25 | 29 | -13.8% | $490,000 | $490,000 | 0% |
| Minnetrista | 34 | 42 | -19% | $474,325 | $453,450 | 4.6% |
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