The headline number looks great — Twin Cities median home prices rose from $385,000 to $395,000 in the last year. That’s a 2.6% gain, and sellers are taking notice.
But price per square foot tells a quieter story. Over the same period, it moved from $199 to $202 — just 1.5% growth. That gap matters.
When the median price rises faster than the price per square foot, it usually means the mix of homes selling has shifted — more larger homes, more higher-end transactions — not that every home across the board gained equal value. The market isn’t lying, but it is flattering itself a little.
If you’re pricing your home based on headlines, you might be pricing it based on someone else’s house. In a market this nuanced, getting the price right isn’t just important — it’s everything.
