The 2011 Annual Report by the Mpls Area Association of Realtors just came out.  The Average Selling Price for the Twin Cities was $193,450.  That's about where it was in 2000-2001, before the bubble.  The Median Selling Price was $150,000. 

Much of the pricing was determined by the Distressed Homes Market which comprised 50% of the sales in 2011.  Traditional Median Sales Price was $200,000, while Foreclosure Median Sales Price was $108,000.  On the positive side, Pending Sales increased by 10.8% over 2010 & Inventory is at it's lowest in the past 5 years.  The Supply & Demand are postured for a good 2012.