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Real estate in the Twin Cities of
Minneapolis and St. Paul is an interesting topic, especially when
viewed from the outside in. If you are considering purchasing a
home, or other real estate, in the Twin Cities area. You may be
interested to know some of its background.
Homes in the Twin Cities area could be likened to blue-chip stocks,
for the most part. The economy of Minneapolis and St. Paul area is
generally quite strong and stable, even by the standards of the
upper Midwest. Yes, it does fluctuate somewhat, but nothing like the
more volatile coastal and/or vacation markets.
Over Minnesota's 200 year history, real estate has had a steady
incline in value just over 6%. The last 50 years, in particular, as
record-keeping is far more meticulous, the state has maintained
6.15% increase in value.
What does that mean to me and you, the average homebuyers in the
state? It means that over time, long term that is, we can expect our
Twin Cities homes to always increase in value. Now has the
Minnesota real estate market ever stalled, or even declined
somewhat? Yes, it has. And, just like those blue-chip stocks, there
are always periods of doubt and bumps in the road. That can be
expected in any market, business, or even personal relationship. It
is the natural ebb and flow of the tide.
So, when you are choosing your home in the Twin Cities area, it can
help to know the specifics cities you prefer, and then studied them
more meticulously than the entire seven county area. Because,
although there are obvious averages, some areas perform better
historically than others. There are even different statistics very
and on whether you are purchasing a town home in the Twin Cities, or
a house, or even a condominium.
Traditionally, Twin Cities homes are the best appreciators.
But there are also, at any given time, "trendy" areas that can
fluctuate beyond the normal appreciation patterns. For example,
there are areas of the Twin Cities where town homes are the
predominant choice in housing. And still other areas with even
higher density populations were condominiums are predominant,
usually speckled and with apartment buildings. So that demographic
is a mixture of owners and renters more so than Twin Cities areas
dominated by single family homes.
The best way, however, to really discover the best area for your new
Twin City home is to have a conversation with a licensed
realtor, or other specialist who spends their time intimately with
the market as a whole. If you are still uncertain, a great way to
meet the different neighborhoods is just to take yourself on an
afternoon drive through the different areas of the Twin Cities and
look at what they have to offer.
You and you alone are the only one who can say, what is right for
you. Just keep in mind as you are touring the Twin Cities homes
want exactly those preferences are. Then simply watch for the
proximity to those preferences as your touring. Observe distances to
retail/shopping, bus lines or light-rail, walking, hiking, or
writing paths, places of worship, and anything else that may be
highly important to you in your life.
The Twin Cities of Minneapolis and St. Paul are among the most
diverse in the nation for what they have to offer... entertainment,
spirituality, art, education, history, science, ethnic foods and
more. If you can't find what you're looking for here, you'll be
unlikely to find it in any major city in the US. |
Alex
Anderson
Twin Cities
Realtor
Advantage Plus
Call Me Directly At:
952-303-5678 |
