Spring has arrived in the Twin Cities Metro and the housing market is in full swing! The onset of warmer temperatures has caused buyers to shed their boots and mittens and start house hunting in earnest. Traffic at Minnesota Property Group Open Houses has been brisk. We are seeing many more first time buyers, move up buyers, and buyers who are coming back after going through foreclosure or short sale experiences, (dubbed boomerang buyers) as well.
According to data published by The Minneapolis Association of REALTORS©, March showed an increase in pending sales of 30% over last year and was the highest level for that month since 2005. Additionally new listings were up 21% over March 2014, but due to avid buyer activity the market advantage is still tipping towards sellers. So, it’s a strong market, an active market, and what I would describe as a “snooze and you lose market” with desirable properties often selling within days or even hours of being listed.
Incredibly low mortgage interest rates are holding steady at least for now, so this is really an awesome time to make your move. However be aware that competition among buyers for desirable properties can be stiff, so as a buyer, to get the edge you need to be prepared to make your move when you find that dream property. Here...
Top Realtors in Plymouth, MN
Discuss the 10 Best Reasons to Live in Plymouth
Plymouth is the 7th largest city in Minnesota. The landmass is 32.68 square miles; water covers a 2.64 square mile area, population according to the 2012 census is 72928, median home price as of July 2015 is $300,700, up 8% from the previous year according to Zillow. Prices are predicted to rise another 2% within the next year.
Why is Plymouth a great community? Let us count the ways!
1. Plymouth, MN is a Nationally Recognized Best Place to Live
Chosen by Money Magazine as the number 1 best place to live in 2008, featured in the top 12 for 2011.
2. The City of Plymouth has easy access to the Twin Cities Metro
Whether traveling to downtown Minneapolis for work or play, hop on Interstate 394 and head west 12 miles to reach your destination. Should you want to enjoy the shopping and dining experience of Uptown or enjoy a free concert at the Lake Harriet Bandshell, you can be there in about 22 minutes.
Buying a New Home in Medina, MN
Medina is a small but charming community with a rural flavor. It is located on the western edge of Hennepin County. The area of the city is 27 square miles, 1.55 square miles of that area is water. The population as of 2010 was 4,892 people. As of July 2015, the median home value is $551,200, up 4% over the last year and predicted to rise another 1.2 % in 2016, according to Zillow.
Top 7 Reasons to buy a new home in Medina
1. New homes in Medina have easy access to Downtown Minneapolis
Want to hear the symphony, watch a play, visit a museum, or plan a special evening of dining? Downtown Minneapolis is an easy 20-mile drive heading east on the expressway. Hop on 494 in nearby Plymouth and access the entire Metro!
2. New home developments in Medina are close to shopping & restaurants
Just 12 miles south, you find Ridgedale Center in Minnetonka, which offers endless options in fashion for yourself and your home in a mall setting. Also to the south, a mere 7 miles, is the chic and charming Wayzata shopping district. There you will find dozens of high-quality retail shops featuring fashions, art, and antiques. Stop for lunch at one of the restaurants overlooking Lake Minnetonka for a leisurely meal and a stunning water view.