From October through December of 2020, there were six homes sold, with a median sale price of $742,500 - a 50.5% increase over the $493,500 median sale price for the same period of the previous year. There were 12 homes sold in Independence in the fourth quarter of 2019.
The median sales tax in Independence for the most recent year with available data, 2019, was $5,374, approximately 0.7% of the median home sale price for the fourth quarter of 2020.
The following table compares Independence to other Hennepin County cities with similar median sale prices in the fourth quarter of 2020:
| City | Oct. - Dec. 2020 Home Sales | Oct. - Dec. 2019 Home Sales | % change (Total Home Sales) | Oct. - Dec. 2020 Median Sales Price | Oct. - Dec. 2019 Median Sales Price | % change (Median Sales Price) |
|---|---|---|---|---|---|---|
| Greenwood | 2 | 0 | - | $1,471,900 | $0 | - |
| Tonka Bay | 2 | 4 | -50% | $1,377,500 | $347,000 | 297% |
| Spring Park | 1 | 5 | -80% | $1,000,000 | $335,000 | 198.5% |
| Wayzata | 10 | 22 | -54.5% | $821,000 | $600,000 | 36.8% |
| Greenfield | 1 | 7 | -85.7% | $750,000 | $265,000 | 183% |
| Independence | 6 | 12 | -50% | $742,500 | $493,500 | 50.5% |
| Medina | 13 | 28 | -53.6% | $640,000 | $505,500 | 26.6% |
| Edina | 62 | 145 | -57.2% | $595,000 | $565,000 | 5.3% |
| Shorewood | 10 | 28 | -64.3% | $576,000 | $543,000 | 6.1% |
| Deephaven | 7 | 21 | -66.7% | $525,000 | $675,000 | -22.2% |
| Excelsior | 2 | 6 | -66.7% | $512,500 | $550,000 | -6.8% |
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