The Quad Cities region has a robust housing market, depending on which side of the river you land. Many housing experts believe sellers remain reluctant to list their homes due to continued concerns over COVID-19, which was beginning to see a resurgence in June. The average sale price of a home in Minneapolis was $309K last month, up 12.4% since last year. Wisconsin’s tax rate is in this same range, but their higher average property values mean they pay far more in property taxes than those in the cheaper Minneapolis real estate market. View our Minneapolis real estate … Madison, Wisconsin is also good for real estate investment. Right now, the population growth is driven by both migrations to the area by those seeking jobs and demographic momentum. Minnesota’s reputation as a high tax state is driven by its higher sin taxes on alcohol and cigarettes and higher than the average sales tax rate. Top industry sectors in Minneapolis are health and life sciences, food and water, headquarters and business services, financial services and insurance, and advanced manufacturing and technology. Because of the university, there are lots of students and activities and venues that specifically cater to the student population. The percent of Minneapolis homeowners underwater on their mortgage is 6.3%, which is higher than Minneapolis-St. Paul-Bloomington Metro at 5.0%. For the housing market in the Twin Cities, it’s looking a lot like January as the COVID-19 pandemic puts a chill on home sales in the metro. According to their statistics, in June 2020, Minneapolis was a seller's real estate market, which means there were roughly more buyers than there were active homes for sale. They are well-informed about critical factors that affect your specific market areas, such as changes in market conditions, market forecasts, consumer attitudes, best locations, timing, and interest rates. The Minneapolis Real Estate Market: What to Know for 2020. https://www.avail.co/education/laws/minnesota-landlord-tenant-law Supply and demand continued to favor sellers leading to a rise in prices. Search all homes for sale in Minneapolis, MN. https://www.minnpost.com/economy/2018/02/why-it-s-extremely-difficult-buy-first-home-minnesota-right-now Market data provided by Factset.Powered and implemented by FactSet Digital Solutions. So they should take advantage of scooping up their favorite deals which otherwise are taken away by seasoned investors in the bidding wars. Ready to invest in the Minneapolis housing market? The Minneapolis real estate market is a hot seller’s market and with no signs of near-future residential construction, buyers need to be quick on their feet if they want to find Minneapolis real estate for sale. http://maar.stats.10kresearch.com/reports/lmu, https://www.mnrealtor.com/buyers-sellers/marketreports, https://www.zillow.com/Minneapolis-mn/home-values, https://www.littlebighomes.com/real-estate-minneapolis.html, https://www.realtor.com/realestateandhomes-search/Minneapolis_MN/overview, https://www.neighborhoodscout.com/mn/minneapolis/real-estate, http://maar.stats.10kresearch.com/docs/fss/2020-06/x/report?src=page, https://www.realtytrac.com/statsandtrends/mn/hennepin-county/minneapolis, https://realestate.usnews.com/places/minnesota/minneapolis-st-paul/jobs, https://www.theladders.com/career-advice/these-are-the-15-cities-with-the-most-100k-jobs-in-december-2018, https://www.jsonline.com/story/news/politics/2018/05/08/its-liberal-minnesota-vs-gop-wisconsin-study-economic-growth/590813002, https://www.collegesimply.com/colleges-near/minnesota/minneapolis, https://www.avail.co/education/laws/minnesota-landlord-tenant-law, https://www.landlordology.com/10-cities-to-buy-rental-property, https://www.minnpost.com/economy/2018/02/why-it-s-extremely-difficult-buy-first-home-minnesota-right-now, https://www.minnpost.com/metro/2019/03/a-majority-of-minneapolis-households-now-rent-their-homes, https://smartasset.com/taxes/minnesota-property-tax-calculator, https://www.usatoday.com/story/money/taxes/2018/04/06/states-highest-and-lowest-taxes-3-6/482944002, Nationally, the real estate market is heating up with an increase in home buying despite the COVID-19 pandemic, Minneapolis turnkey real estate investments, There are many reasons to consider investing in the Madison real estate, There are several good reasons to invest in the Davenport Iowa real estate market, Houston Real Estate Market: Prices | Trends | Forecast 2021, New York Real Estate Market: Prices | Trends | Forecast 2021, San Francisco Bay Area Real Estate Market & Investment 2021. This metropolitan region is so large that it extends into parts of Iowa. While the effects of COVID-19 in the broader economy continue, real estate activity is beginning to recover across much of the country as well as in the state of Minnesota. Notificatión de vivienda justa para New York . Ideally, a buyer would prefer a sale to asking price ratio that’s closer to 90%. Days on Market was down 17.5 percent to 47 days. One-bedroom units have increased by $85 (6%) and two-bedroom apartments have increased by $155 (7.1%). Housing, from houses for rent to apartments and condos are affordable and near inexpensive restaurants, bars, cafes, and bookstores. Minneapolis home values have gone up by 3.3% over the past year and Zillow predicts they will fall within the next year. For the housing market in the Twin Cities, it’s looking a lot like January as the COVID-19 pandemic puts a chill on home sales in the metro. According to Walletinvestor’s Minneapolis real estate market research, home values will increase in the next 12 months. Smaller arts and technical colleges dot the town. The median price for Minneapolis homes on the market is $300,000, which is far above the national average of about $200,000. Our property investment analyst Ai … Zillow has 1,216 homes for sale in Minneapolis MN. And check out these stats from the Minneapolis Area Realtor’s Association: New Listings increased 9.5% to 702; Pending Sales decreased 6.7% to 723 Until sellers regain confidence, housing inventory will continue to be constrained during what is expected to be an active summer selling season. As a result, buyers who enter the market at this should have more options than usual when it comes to choosing a property. As a result, the city is expected to experience an influx of buyers, which bodes incredibly well for real estate investors. Minneapolis is noteworthy for being a growing town, driving the Minneapolis real estate market’s demand for properties. If this price forecast is correct, the Minneapolis home values will be higher in the 3rd Quarter of 2021 than they were in the 3rd Quarter of 2018. Minnesota’s capital city is not only the hottest market in the state, but it’s one of the hottest markets in the entire country, ranking #1 overall in the Midwest. Nationally, June showing activity was up notably from the COVID-19 depressed levels in recent months but was also up from June 2019, reflecting pent-up demand by prospective home buyers. Pending Sales were down 20.1 percent to 4,612. Investing in real estate is touted as a great way to become wealthy. According to Redfin, the Minneapolis housing market is one of the most competitive, getting a 91 Redfin Compete Score. Median age in Minneapolis is 31.7 vs. U.S. median age of 37.4 years. While it is an urban Midwest town that started to decline in the 1970s, it is seeing a kind of renaissance. NBA Minnesota Timberwolves, MLB Minnesota Twins, and NFL Minnesota Vikings are three of the championship-winning professional sports teams in the Twin Cities. This is higher than the Minneapolis metro area rental rate of $1700. Loring Park, where renters pay $1,394 on average. Yet their location on the Mississippi River and other transit routes contribute to a diverse job ecosystem, where employers like 3G and General Mills maintain manufacturing and food processing hubs. According to Redfin, the Minneapolis housing market … There are about 699 schools in Minneapolis—231 elementary schools, 176 middle schools, 202 high schools, and 90 private & charter schools. The city already has suburbs, but people don’t want to move too far out from the urban core where most jobs exist. 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