The Bright Inner Ring Eclipses the Rest
By David Arbit on Monday, August 21st, 2017
While many–though not all–cities around the metro have seen all-time high median sales prices, the first and second-ring suburbs near Minneapolis and major job centers stand out. Check out the median home price for these Minneapolis suburbs.
But when we account for the fact that bigger homes are selling (both from new construction and finishing the attics and basements of existing homes), we find that the price paid per foot of house has not reached new highs since the bubble. That means the price of a comparable or identical property may not really be at all-time highs. Record prices partially reflect the fact that bigger homes are selling.
Here is the same comparison for other Twin Cities suburbs a bit farther out.
- Gung-Ho Sellers Post Largest Increase in Nearly Three Years
- Southeast Minnesota REALTORS® MLS merges with NorthstarMLS
- Maps, Maps and More Maps
- Sales Flatten while Sellers Capitalize on Price Gains
- Govt. Affairs Committee Submits Public Comment on Draft Mpls. 2040 Plan
- Sellers: flat. Buyers: down. Prices: up.
- Good news for sellers may finally be luring them into the market
- Long-Term Price Trend
- Q2 – 2018 Home Payment Report
- Slightly less activity yet higher prices in less time