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

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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...