Selling Your Home in Minnesota? Partner with the Top Realtor for Maximum Returns

The Twin Cities Housing Review December 2019

Twin Cities Real Estate Review

Even as we advance into the new year, we have one piece of unfinished business to conclude in 2019 before closing the books. The Twin Cities housing market numbers are out for December, and here is the story they told.

It’s a tale that is long in the tooth by now about a market that is struggling to find balance. Limited inventory at lower price points makes the real estate market in the Twin Cities a seller’s dream. Even in the face of strong demand and insufficient stock, millennial buyers are achieving the objective of buying their first home.

Housing Inventory

While new listings for December saw a gain of 3.9%, overall inventory levels were down 19.6% compared to December 2018. The townhouse segment, down 12%, lost the least inventory, while single-family homes were down 20.8%, and condos lost 14.2%. The month’s supply of inventory for December was dipped 21.2% overall. In the Twin Cities metro, we saw 1.6 months of supply for single-family homes (down 20%), 1.1 months for townhomes (down 8.3%), and 1.5 months for condos (down 11.8%). 

Real Estate Sales

Closed sales in the Twin Cities were up 13% in December, and pending sales were up 8.2% compared to the same time from the previous year. The category with the most significant gain in sales was single-family homes, with the most robust sales falling in $500,001 to $1,000,000 pricing tier, up 17.2%

Home Property Values

Fueled in part by limits on inventory, home values continue to gain traction. The 12-month rolling median sales price of a home in the Twin Cities...

12 Steps to Transition Your Real Estate Business to The New Year

12 Steps to Transition Your Real Estate Business into the New Year/MN Property Group/Blog

Ways to Transition Your Real Estate Business Into the New Year

It’s impossible to think of ending one year without looking ahead to what’s around the corner. I love the mystery that awaits, knowing that I can prepare for events down the road. With that in mind, I anticipate the new year with excitement and optimism and a dusting of prudent vigilance.

The last couple of weeks of December is the perfect time to review the past twelve months. When the pace of the real estate market slows down, an opportunity to streamline my goals and business plan enables me to be ready for the start of the new year. My words of the day are: review, reorganize, refresh, and recycle. Here are twelve ways to do it.

1. Freshen Up Your Real Estate Bio

Now is the time to bring your bio up to date on your real estate and social media accounts. Elements you want to include when you refresh your bio are awards, achievements, real estate courses completed, professional certifications earned, and milestones reached. It would help if you could also talk about any community service projects or volunteering you participate in. Connect personally with marriage and birth announcements, interests, or hobbies. Also, consider new professional photos, especially if you didn’t take one last year.

2. Evaluate Your Real Estate Tools

Today’s homebuyer is very tech-savvy and expects the same from their real estate...

Twin Cities Housing Review October 2019

The Fourth Quarter nationality

It seems like last week I was still sporting shorts and flip-flops, yet here we are fully ensconced in fall, with winter just around the corner. As we focus on Thanksgiving and gratitude, I am thankful for the strength of the Twin Cities housing market.

The cold months may be the slowest time of the year, but due to historically low mortgage rates, housing demand remains strong while home values continue to rise. Buyers should notice and not let the cold weather stop them from following their dream of homeownership.

The Story of Low Inventory and Strong Demand Continues

If you are looking for a home at the lower price points, you face competition. There are still not enough homes to satisfy the hunger for homeownership. Although we saw a 3.8 percent increase in new listings compared to October of last year, inventory fell short by 5.8 percent. At the higher-priced end of the market, it is either balanced or leaning in favor of the buyer.

Property Values

The trend for rising home values began in 2011 and continues. For October, sellers enjoyed a 5.7 percent increase in the median sale price last year at this time. At the same time, homes spent 4.2 percent less time on the market, approximately 46 days. With demand strong, home values rising, and interest rates low, sellers should be encouraged.

Interest Rates

We did experience...

Important Stuff Every Homeowner Should Know

What You Should Do Once You buy a Minnesota Home

You just bought a home! Congratulations! You’re excited and can’t wait to move in, especially if this is your first home. You want to paint and decorate it. Maybe buy some new furniture. Of course, you want to turn your new digs into a house; you will appreciate every single minute in the years to come. Kate and I felt the same when we bought our first home.

But in all the enthusiasm, there are some aspects of your home you should familiarize yourself with from your first day, for your safety and peace of mind. There are also a couple of new home chores you want to take care of that need to be on the very top of the to-do list.

Things to do Right After You Buy a Home in MN

I’m often amazed at how many new homeowners do not change the locks before or as soon as possible after they move in. It would be best if you were prepared to do this before closing your house. Even when you have met the former owners and think they would never hold back a key, you have no idea how many other legends may be circulating or who may have them. If you want to save some coins, you can buy a rekeying kit. You could also change the locks yourself (it’s easy) or have a handyman perform the task.

Change the Garage Door Code

For the same reasons you would change the locks, you should also reprogram the access code on your automatic garage door opener. Once you have your home secured against unauthorized entry, you will sleep more soundly.

Check Your Smoke and Carbon Monoxide Detectors

Test all your smoke detectors. I would also suggest...

MN Realtor Reviews the Real Estate Market

MN Realtor Reviews the Market

Can you believe summer is over, and we are firmly ensconced in fall? Halloween may be right around the corner, but I’m happy to say there is nothing scary about the Twin Cities housing market. Just the opposite.

Although we now head into the slowest time of the year for real estate, currently we are seeing lots of buying and selling activity. This activity is partly due to a dip in mortgage interest rates and a carryover of strong demand for housing.

Currently, you will see fewer homes for sale. However, there are fewer buyers, as well. There seems to be less urgency, generally speaking, allowing buyers to take a deep breath before deciding to make a purchase offer on a home. So if you have been on the fence about to buy or not to buy, this may be a great time to jump into the market.

MN Realtors See Low Inventory

I’m tired of saying it, and likewise, you are tired of hearing it, but lack of affordable inventory of homes is holding back an otherwise vibrant and robust housing market. At the lower price tiers, demand still outstrips supply with inventory falling 5.6 percent from September of 2018 with the most significant declines in prices below $250,000. 

Property Values 

Home values have been steadily increasing since 2011. The median sale price increased 6.6 percent over last September and 6.6 percent over the 12-month rolling period as well. Even with it looking as if the economy may be moving into some headwinds,...

MN Realtor Reflections

MN Realtor Reflections 

It's mid-September, and I find myself emersed in the end-of-summer reflections and, at the same time, feeling the excitement of a new season soon unfolding. But first, to be clear, I am in no hurry to kick summer out the door like a discarded lover because I prefer fall's embrace. Autumn is a spectacular season, and I adore crackling fires, the nip of crisp air, steaming bowls of soup, and pumpkin, everything. However, each season deserves its full measure, and summer is short enough. We'll know when it's time to pull out the favorite turtleneck and crockpot, but with temps still in the 70's and low 80's, fall needs to wait its turn. 

Real Estate Agents in MN 

Lucky us, in The Twin Cities, we celebrate all four seasons: spring, summer, fall, and winter. However, the lines between when one ends and the next begins are often blurry. I decided to take an informal survey of friends and neighbors on when to let go of summer and move on.

  • Labor Day weekend is the end of summer
  • Summer ends when the kids go back to school
  • End of the Minnesota State Fair means the end of summer
  • Meteorological summer is over August 31
  • When the pools close, wave bah-bye
  • Summer is over when I hang up my flip flops
  • ...

Twin Cities Housing Review July 2019

Twin Cities Housing Market Review From Top Local Realtor

There are currently numerous factors that affect the housing market. However, right now, more than anything, it is the consistent lack of homes available for buyers in the lower pricing tiers. This fact holds true both in the Twins and in most markets across the nation.

It's significant that while home values are still increasing, it is slower, more closely matching income and wage growth. While you may be frowning if you are thinking about selling your home in the future, the alignment is healthy for the market. We all knew that sharply escalating prices for homes could not continue indefinitely.

MN Housing Market Trends Have Been Consistent

While we continue to see constraints on available homes for sale at the first-time buyer level, the market is becoming more balanced as we move up to higher price ranges. So sellers are still enjoying a market that favors them under $500,000.

Meanwhile, lower interest rates are helping to continue to make housing affordable despite the rising prices. Even though new listings were up 1.8 percent over July of 2018, inventory levels in the Twin Cities fell 4.4 percent. Despite the fact, demand remains strong, with closed sales up 4.5 percent and pending sales up 3.2 percent.

Although prices are not rising as quickly and steeply, the median selling price was up 5.9 percent over July of last year and up 7 percent as a rolling 12-month comparison. With days on the market flat at 38, homes sell just as quickly even though prices are going up.

...

Outstanding Plymouth Home Has It All

This is how Top Plymouth Realtors Sell Homes

We found a treasure of a home in Plymouth, and we are excited to share it with you. This 2700 square foot residence sprawls lavishly along a circular drive, surrounded by enchanting gardens of flowering perennials, shrubs, and trees.

This home has been meticulous and lovingly maintained by the current owners since 1973. It's easy to see why they moved in and never wanted to leave. This property has so much to offer regarding lifestyle, comfort, and location. Let us tell you some of the features we love about this home.

Outstanding Location

Plymouth, MN, has been on America's Best Places to Live list on three occasions and once including winning the #1 spot in 2008. With an outstanding location 12 miles northwest of downtown Minneapolis, extensive parks and trails, several bodies of water for recreation, convenient shopping and entertainment, excellent public and private school options, it is not surprising that it is one of the sought-after western suburbs.

Right around the corner from this home, you will find a wide variety of shopping and dining options. The expressway is 2.5 minutes away, which opens the entire metro access. Medicine Lake is a 10-minute drive to the west, and downtown Wayzata and Lake Minnetonka are 10 minutes to the south. Did we mention that your kiddos would be attending Wayzata Schools? Now we did!'

Great Curb Appeal

So much about this home is impressive and unique. Note the mansard roof and the architectural shingles (replaced 2017), one of the design details I love about this house. The white brick entrance steps were added last year. Striking red double front doors and two lion sculptures greet you as you enter the home.

Outstanding Floor Plan

We love the layout of this home which lends itself seamlessly to the outdoors. The large windows soak every room with sunlight and provide views of the groomed expanses of lawn and beautifully...

Saving to Buy a House in MN

Money Tips From the Greats/MNPropertyGroup/blog

Saving to Buy a House in MN

For some of us, taking control of our finances is a challenge. One crucial element of the process is saving money. Americans are not very good savers. According to Bankrate, 58 percent of us have less than $1000 in savings. Many of us are in that 58 percent because saving was not a habit we learned as children, but we can embrace it as adults. We can develop and nurture positive saving habits with motivation and inspiration.  

Money Tips From the Greats/MNPropertyGroup/blogDo not save what is left after spending, but spend what is left after saving. – Warren Buffet 

If you have a 401K benefit with a company match from your employer, make sure you have the maximum amount deducted from your paycheck to take full advantage of the matching funds. Your 401K should be one of the significant elements of your retirement savings. The added benefit of the 401K savings is the money is not taxed until you take it out of your account.

Take Saving For your First Home in MN up a Notch

Deduct a fixed amount from your salary to your emergency fund, down payment for a home fund, vacation fund, or whatever other goals you have established for your money. Consider saving as a bill you pay to yourself first. Annual income twenty pounds, annual expenditure nineteen six, result happiness....

The Monthly Budget and Yes You Need One

Use a Budget to Control Your Money

When we gain control over our finances, many positive outcomes will follow. The door to new opportunities will open to us, and we will have more lifestyle choices to consider. How exactly do we control our money? We set financial goals, monitor our spending, keep a debt limit, save regularly, and invest wisely to achieve those goals. The very first step on the journey is following a budget.

A Budget is Powerful

A budget is a map we follow on the road to establishing a positive relationship with our money. With a budget, we can better plan how to spend if we know how much we have left after paying all the bills. When we have a snapshot of our spending habits, we will be more likely to use discrimination in our purchases.

We need a budget because it is critical to keep our financial house to build our future. Budgeting can help you rent and furnish your first apartment, buy your first home, take a vacation, and begin planning for retirement. (Honestly, it’s never too soon) That is powerful stuff!

Budgeting Tools

We all need a tool to keep track of income and expenses because it’s critical to know where our money goes every month. Many apps are available to help you monitor your finances, such as Mint, Wally, Envelopes, and You Need a Budget. Some are just plain and straightforward budgets, while others help you save or invest. Many are free, while others will cost you. Don’t forget you will need to include the fee in your budget. 

If you are not app inclined, another option is to keep a spreadsheet. Many of these are free, and some are not. Many...

Homebuyers Take a Closer Look Before Making an Offer

Look Past the Pretty Package

When a buyer looks at a beautifully staged home that fits their criteria, emotions rule. Fall in love with a particular house, and almost immediately, the heart works against our own best interest by suppressing our better judgment. You know what I mean, that little voice inside your head saying, "but what about those battered floors?"

Consider the facts first.

The more you know about a home before making an offer, the better. The condition of the house should be a significant consideration. Hopefully, unless expensive, unforeseen repairs are part of your plan, you will have a professional home inspection as a contingency in the offer. But, before you even make that offer, you can do your preliminary evaluation of the home's condition yourself. 

Don't set the stage today for financial regrets later.

There is no way to say that refinishing floors, painting, or other minor repairs should be dealbreakers. But if too many items fall on the fix list, added altogether, they may prove to be a tipping point on the no-sale side or affect the dollar amount of your offer. Even when a home checks off all the needs boxes and many of the nice-to-haves, costly repairs can quickly lead to regret.

Look before you leap.

Here is a suggested list of items you can check before you take that first step by offering to purchase. A second visit to the property is preferred. Still, given the competitiveness of the housing market at the lower price brackets, this is also something you can do on the initial tour of the property.

Warning signs to look for inside the home.

  • Floors – squeaks or sponginess, or worn-out carpet or wood that needs refinishing.
  • Walls –water stains, cracks,  bulging areas
  • Ceilings – water stains, damages, or sagging
  • Windows – open and close all the windows. Look for cracked panes, condition, and age of storm windows, torn or ill-fitting screens,...

5 Ways to Improve Your Relationship with Money

5 Ways to Improve Your Relationship with Money

Our relationship with money generally begins at a very young age. That connection is very simplistic. We want stuff, and we use the cash to get things. We get the money that gets us the stuff from our parents, grandparents or any family member that happens to be handy at the moment with a few bucks in hand. We are not particular.

Fast forward, and we grow up. Hopefully, along the way, our parents will teach us some fundamental money management skills because if, as adults, we don't have some control over our finances, they will control us. The result is mounting debt and sleepless nights worrying about how we will pay it down.

Money Management is an Acquired Skill

If I've just described your situation, don't take it as a personal judgment. You are not alone. Americans have a problem with handling their finances. Need proof?  Look at the 2008-2009 real estate market crash where 3.9 million Americans faced foreclosure. We collectively owe $1.5 trillion in student loans and another $1.4 trillion in credit card debt. To make matters worse, 60 percent of Americans cannot cover a $1000 emergency expense, and nearly 45 percent of baby boomers (aged 55-73) have no retirement savings.

Maybe you are a rock star at handling your money, and you feel a bit smug. Kudos to you, and I say that with respect and sincerity. Adulting is hard work. But if you feel like inserting your head in a gallon of chocolate ice cream right now, please read on. The development of a fiscally responsible lifestyle is an acquired skill. Let's get started right now with five tips that will put you on the path to a healthy relationship with your money. 

Establish a Consistent Income Flow

If you do not have a steady job and cobble together an income with short-term gigs, part-time assignments, and occasional handouts from your mum, look for a full-time position with a steady income and preferably benefits. It's impossible to learn how to...

Twin Cities Housing Review June 2019

MN Realtor Reviews the Housing Market 

As we look at June and the end of the second quarter, we observe a continuing trend of a more equitable and viable real estate market emerging. We also continue to enjoy strong housing market performance due to low unemployment, strong retail sales, and the longest US economic expansion in history. 

Overall, the dynamics of the market have not changed noticeably this year. Although new listings fell by 3.1 percent compared to last June, the median sale price increased by 7.2 percent while days on the market flatlined at 40. We are slowly approaching balance in the price range of $350K to $500K, but certainly not there yet. When we go above that range, we reach a balance between buyer and seller. The highest price range is the buyer's market.

Meanwhile, back in lower price land, inventory is scarce. I know, I know. You have been hearing this story for a long time now. 

The High's and Low's of the Twin Cities MN Housing Market

Looking at June of this year compared to 2018, new listings are down 3.1 percent. That decrease also brought pending sales down 2.9 percent and inventory levels down 1.3 percent. Meanwhile, the Median sales price increased by 7.2 percent, causing sellers to smile. Closed sales decreased 8.2 percent, as did a percentage of list price received slightly by 0.3 percent.  Time on the market until sold flatlined.

A Deeper Dive into the Numbers

The most significant gain in sales rests at the highest end of the market above $1,000,001with, a 13.8 percent increase over last year at this time. The most significant price gains were in the condo market, with a median price of $182,900, up 11.5 percent. The fastest-selling properties were in the $190,001 to $250,000 price range at 34 days. Homes in the $1,000,001 and above bracket took the longest to sell, averaging 166 days. Reviewing supply, we see market-wide inventory levels were down 1.3 percent. Single-family homes...

A FICO Score Explained By MN Realtor

A FICO Score Explained By MN Realtor

By the time you experience initiation into the adult world, you've probably heard the term credit score. It's a number you should be concerned about because others will be, and they will use it to judge your ability to pay back a loan.

So who cares about your credit score exactly? Credit card companies, banks, mortgage brokers, cell phone companies, insurance companies, and landlords, to name a few. Some companies even want to look at your credit score before offering you a job to see how responsible you are.

How is Your Credit Score Calculated

Your credit score is a number that captures your creditworthiness based on your credit history. Three major credit bureaus, Experian, Equifax, and TransUnion, track your financial information. The Fair Isaac Corporation takes this data and uses a model to assign a number known as a FICO score. Most creditors use this score to evaluate you when you apply for a loan such as a mortgage.  

The factors that FICO uses to calculate your score include

  • payment history,
  • amount of money you owe,
  • length of your credit history,
  • credit mix,
  • recent requests for new credit.

Each of these categories determines a percentage of your score to create a snapshot of the state of your finances and your ability to take on more debt. Let's take a close look at each of the segments and how much weight they carry when tallying your credit score.

...

5 Ways You Should Never Compromise When Buying a Home

Buying a Home in Today's Market is a Challenge

You are rooted in the trenches in your quest for homeownership. The last property you toured had the kitchen of your dreams, but it is too close to the highway. The retirement condo you saw on the internet has everything on your wish list, but the building doesn't have an elevator.

A warning to buyers, especially first-timers, in this market, finding everything you want is rare when there are not many homes to choose from, and properties rarely last a week without an accepted offer. Although you agree that compromise is a given, it's wise to remember that some factors cannot be changed if you discover the deal you made is not working. You don't get an opportunity to test drive a home.

In a recent survey by Trulia, 51 percent of homeowners have regrets about some aspect of their home. It is a given with the lack of inventory and the stiff competition for homes. Circumstances may call for more compromise than you may want from your sacred wish list. There is nothing wrong with being adaptable. However, there are certain things you should never concede if you're going to be among the 49% without buyer's remorse. 

1. Location

The place is one characteristic of a home you can't change or adapt to. You should make sure that the area meets your family's needs now and for the amount of time, you expect to own your home. There are a few factors about the location you should consider. So when you evaluate a street address, ask yourself these questions.

  • How is the school system rated?
  • What is the crime level?
  • Is this a high-traffic street?
  • ...

MN Summer Activities List

A Top Real Estate Agents Idea for Summer Fun in MN

Summer has returned to the Northern Hemisphere. Here in Minneapolis, the tundra, we feel our glorious summer is the reward we deserve for getting past a long, frosty, biting, snowy, punishing winter. Ok, you get it – it’s cold here for a substantial portion of the year.

I’ll make the concession that all seasons of the year have their particular charms and recommendations. But, making the most of summer, filling every day with pleasures of the season, comes with the territory here in Minnesota. My summer list consists mainly of simple pleasures, with a touch of the exotic to shake it up a bit.  

MN is the Land of 10,000 Lakes

Now coming from a resident of the land of 10,000 lakes (actually, it’s more like 11,842), it’s no surprise that water plays a dominant role in summer. Swimming, boating, fishing, sailing are all popular activities enjoyed on Minnesota lakes in the summer months. 

Go on a picnic. Attend a concert in the park. Play mini-golf. Play tennis. Run a marathon. Walk the dog. Play catch with kids. Ride a swing. Go rollerblading. Go surfing. Drink lemonade or ice tea. 

Be happy as a Realtor.

Host a clam boil, a shrimp boil, or even a lobster boil if you feel flush with cash. However, in the spirit of disclosure, having consumed my fair share of clam boils living on the east coast for many years, I can honestly say I never met a clam that was happy to be part of the festivities. 

Visit a national park on free park day. 

Toast marshmallows around your firepit.

Take a hot air balloon ride.

Attend a baseball game.

Plant a vegetable garden.

Rock a Birkenstock.

We were first introduced many years ago in a shop named Aquarius. My young hippie self found you nestling comfortably...

Twin Cities Housing Review May 2019

Minneapolis-St. Paul Realtor Gives Housing Market Overview

As we look at the middle month of the spring housing market, we observe a trend towards a more balanced and sustainable real estate landscape. With the Fed holding steady on interest rates and even suggesting it may lower them, the concerns over rising costs of mortgages are behind us.

Although not growing as rapidly as in previous years, the economy is holding steady, and stocks are performing well. These factors create an atmosphere of consumer confidence in the economy, and the real estate market responds well to these conditions.

Although the inventory of homes is rising in the higher pricing tiers, supply remains constrained in the lower first-time buyer levels. The current situation is great for sellers, but it is still no bed of roses trying to break into the market and buy a home for buyers. It’s not surprising that we see fewer sales at this end of the market.

The MN Real Estate Market Ups and Downs

Comparing May of last year to the current year, new listings are up 2.4 percent. We’ll take it! The Median sales price gained 5.2 percent. At the same time, closed sales ticked up 3 percent, pending sales sunk 1.8 percent.  Homes spent less time on the market, down 4.3 percent. We also see a decline of 0.2 in the percentage of sale price received, although it is still sitting at 100 percent, which gives sellers little reason to complain.

A Closer Look at the Housing Stats

We see the most significant gain in sales at the $350,001 to $500,000 price range, an 11.3 percent increase compared to May 2018. The most substantial price gains were in the condo segment, with a median price of $180,000,...

7 Ways to Up Your Curb Appeal Mojo

MN Realtor Shares Easy Ways to Boost Your Curb Appeal

If your curb appeal is missing that specific something that takes it from so-so to wow, I dedicate this post to you. If you are selling your home, you should already know how critical making that positive first impression is to potential buyers. You want to hit them with your best before they walk in the front door.

Curb Appeal Works Magic on MN Home Buyers

Even if you are not selling your home, boosting your curb appeal adds value to your property. You will also win the admiration of your neighbors and become the most popular house on the block. After you finish my list of suggestions, it will amaze you that such a small investment of money, time, and creativity will result in a noticeable uptick in curb appeal.

Here are my best, inexpensive tips for upping your curb appeal game. So please put on your sunscreen, and let’s get outside!

1. Up Your Front Door Mojo

True story. Several years ago, I had difficulty selling my home in Rhode Island. It was a newer home, a colonial replica associated with like homes. Great location and landscaping but not getting the attention from buyers my agent and I anticipated.

I decided to paint the two yellow front doors turquoise over the objections of my realtor, who was reminding me that my choice wasn’t a traditional colonial-era color. A few days later, we had several showings and an offer. I’m convinced it was the newly painted doors.

So if your front door is faded or doesn’t say “look at me,” get a quart of color that catches the eye. Remember, don’t be coy or shy in your choice you want to stand out from the crowd.

2. Work Magic on the Front Porch 

If you are lucky enough to have a porch, flaunt it. Hang some greenery and flowering baskets. Set up a cozy eating nook and a sitting area. If you have a front entrance less spacious, put a pot or two blooms by the door and a chair if you have the room. Don’t...

Twin Cities Housing Review April 2019

Minneapolis-St. Paul Real Estate Big Picture

The Spring Housing Market is in play. Prices are on the rise as inventory levels continue to decline. Hopeful buyers in the lower price range are jumping on desirable properties hoping their offers rise to the top of the heap.

Months supply of inventory is improving in the mid-price housing range. We see steady sales activity in the higher price ranges, while in the lower tiers, buyers are still finding that landing a deal on a home to be a challenge, especially for desirable homes in sought-after locations.

What’s Up and What’s Down

Compare new listings to April of last year; we see an increase across the 16 county Twin Cities region of 4.5%. Closed sales were down 6.9%, while the median sale price rose 5.2%. Pending sales were also down 1.1%, and inventory levels were 1.2% lower.

April weather was wintery at times, which discouraged buyer traffic and slowed sales. This trend was seen across Minneapolis and other parts of the nation. Higher prices, less affordability, and low inventory combined forces dampening sales.

Let’s Dig a Little Deeper into the Housing Stats

While the median sale price rose 5.2% to $281,000 and days on the market, rose 5.7% to 57 days. The price range with the most significant gains in sales was $1,000,001 and above, showing an increase of 10.7 percent.

Condos enjoyed the most substantial price increases, up 12.4 percent to $179,900, while homes in the $190,001 and $250,000 range sold...

Welcome to the North Loop

Mpls Real Estate Agents Top Neighborhood

There is a park along the Mississippi teeming with hawks and bald eagles. If you spend any time here, you notice the character of the river changes daily. A vibrant neighborhood is right out the front door, and it’s a short walk to Target Field, the Guthrie Theater, and downtown Minneapolis.

Whole Foods, the dry cleaner, the local liquor store, and the Minneapolis Farmers Market are part of your neighborhood shopping experience. Boutiques and brewpubs are liberally sprinkled around the city streets beg you to explore and savor. In the evening, catch a movie at St. Anthony Main, followed by dinner and fresh gelato at the Wilde Café. This is the North Loop.

The North Loop is Minneapolis’s Hippest Neighborhood

The North Loop is about converted warehouse lofts (also called the Warehouse District), 5-star restaurants, hip bars, and gay nightspots. You’ll find great design shops where you can buy indie fashions. The Minneapolis Farmer’s Market is the place for local produce and products. You can catch a Twins game at Target Field.

Trendy, innovative, cool, vibrant, and hip are all words you can use to describe the North Loop. In keeping with what was old is new again; it is also one of the city's oldest areas, with its roots in the industry of a railroad yards, factories, and warehouses. The Minneapolis Warehouse Historic District is listed on the National Register of Historic Places. 

The North Loop Vibe

The North Loop, a blended neighborhood of past and present, is much more than the sum of its parts. In the 1960s and ’70s, the warehouse district was falling into decay. It was resurrected in the1980s to become the center of the Minneapolis art community. The transformation is ongoing. The future of the Warehouse District is now “the” area to live, work and play in the Twin Cities.

A Neighborhood of Distinction

The North Loop is the fastest-growing neighborhood in Minneapolis....