From July through December of 2020, there were 18 homes sold, with a median sale price of $687,000 - a 43.6% increase over the $478,250 median sale price for the same period of the previous year. There were 28 homes sold in Independence in the second half of 2019.
The median sales tax in Independence for the most recent year with available data, 2019, was $5,374, approximately 0.8% of the median home sale price for the second half of 2020.
The following table compares Independence to other Hennepin County cities with similar median sale prices in the second half of 2020:
| City | July - Dec. 2020 Home Sales | July - Dec. 2019 Home Sales | % change (Total Home Sales) | July - Dec. 2020 Median Sales Price | July - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Minnetonka Beach | 1 | 9 | -88.9% | $1,980,000 | $1,499,900 | 32% |
| Tonka Bay | 7 | 10 | -30% | $1,749,000 | $484,500 | 261% |
| Greenwood | 5 | 5 | 0% | $1,150,000 | $1,070,000 | 7.5% |
| Excelsior | 6 | 15 | -60% | $702,500 | $600,000 | 17.1% |
| Wayzata | 26 | 38 | -31.6% | $695,000 | $666,000 | 4.4% |
| Independence | 18 | 28 | -35.7% | $687,000 | $478,250 | 43.6% |
| Woodland | 4 | 5 | -20% | $665,000 | $1,175,000 | -43.4% |
| Medina | 40 | 66 | -39.4% | $640,625 | $580,052.50 | 10.4% |
| Edina | 221 | 378 | -41.5% | $600,000 | $574,750 | 4.4% |
| Deephaven | 28 | 48 | -41.7% | $562,500 | $695,000 | -19.1% |
| Orono | 52 | 93 | -44.1% | $560,000 | $750,000 | -25.3% |
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