From October through December of 2021, there were 13 homes sold, with a median sale price of $625,000 - a 15.8% decrease over the $742,500 median sale price for the same period of the previous year. There were six homes sold in Independence in the fourth quarter of 2020.
The median sales tax in Independence for the most recent year with available data, 2019, was $5,374, approximately 0.9% of the median home sale price for the fourth quarter of 2021.
The following table compares Independence to other Hennepin County cities with similar median sale prices in the fourth quarter of 2021:
| City | Oct. - Dec. 2021 Home Sales | Oct. - Dec. 2020 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2021 Median Sales Price | Oct. - Dec. 2020 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Spring Park | 3 | 1 | 200% | $975,000 | $1,000,000 | -2.5% |
| Deephaven | 14 | 8 | 75% | $760,000 | $990,000 | -23.2% |
| Tonka Bay | 6 | 4 | 50% | $752,750 | $812,500 | -7.4% |
| Medina | 26 | 14 | 85.7% | $706,000 | $669,750 | 5.4% |
| Edina | 145 | 64 | 126.6% | $653,900 | $612,500 | 6.8% |
| Independence | 13 | 6 | 116.7% | $625,000 | $742,500 | -15.8% |
| Wayzata | 14 | 10 | 40% | $615,000 | $821,000 | -25.1% |
| Shorewood | 26 | 10 | 160% | $590,000 | $576,000 | 2.4% |
| Greenwood | 3 | 2 | 50% | $570,000 | $1,471,900 | -61.3% |
| Minnetrista | 44 | 19 | 131.6% | $569,845 | $447,850 | 27.2% |
| Long Lake | 4 | 1 | 300% | $522,000 | $295,000 | 76.9% |
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