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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...

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

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375 Ferndale Rd N, Orono, MN

375 Ferndale Road N, Orono MN

If you search for a great family home in the western suburbs, you may fall in love with our newest listing in Orono. This 2,783 square foot walkout rambler is spacious and stylish and offers charm, comfort, and modern functionality.

The current owners meticulously and lovingly maintain this beautiful home. The updates and improvements they make will impress you. Since we feel pictures tell the story of a home best, let’s begin our mini-tour and point out some of the features that we love about this home.  

Outstanding Location

Orono has the charm of a small town while offering excellent access to the Minneapolis urban scene, with downtown accessible by a 16-mile drive on the expressway. Four-season recreational options abound since this community sits in the Three Rivers Park district, and bonus points for this home are adjacent to the Luce Line Trail.

What else? Shopping options are plentiful in all directions, and you never have to drive very far for a grocery run or dining out. Downtown Wayzata and the Beach are a short walk which is the icing on the cake! Another essential plus, this residence is located in the award-winning coveted Wayzata School District.

Main Level Features of 375 Ferndale Rd N, Orono, MN

The family room impresses. We love the abundance of windows that not only soaks the room in sunlight but afford a view of the beautifully landscaped backyard...