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POTW | Windom Park Tags:

pickoftheWeek_Jan4

 

 

 

 

 

Windom Park is a lovely Northeast Minneapolis neighborhood bound by Lowry Ave NE to the north, New Brighton Blvd to the east, 18th Ave NE to the south and Central Ave to the west. Some may better recognize the neighborhood as the area just north of the Quarry, between the cemetery and Central Ave.

Home prices in Windom Park are currently about 17.5 percent higher than the entire Northeast Minneapolis community. Prices in the neighborhood are within 1.3 percent of their previous peak. Prices rose 5.0 percent in Windom Park over the last 12 months compared to 11.3 percent in all of Northeast.

Since Northeast is quite popular these days, it’s no surprise that homes in the area tend to sell faster than comparable homes in the metro area. Homes in Windom Park tend to have accepted offers after a median of 27 days on the market. That figure is 26 days for all homes throughout Northeast Minneapolis, while it’s 41 days for all homes throughout the metro.

The most common square footage for homes sold in Windom Park over the last 12 months is 1,500 square feet and less. In older, more built-up parts of the metro, particularly in and around the core cities, it’s pretty common to find smaller homes that are under 1,500 square feet.

The 3-bedroom home was the most common layout for closed sales. That segment had nearly twice the unit sales activity of the next most popular segment, 2-bedroom properties. Earlier in 2015, 2-bedroom properties had once again overtaken homes with 4 bedrooms or more to claim second place.

Perhaps the most broad and truly apples-to-apples visual is that of a price per square foot comparison of progressively increasing nested geographies. In other words, the above chart adjusts the data for square footage by utilizing price per square foot and compares that figure for Windom Park to Northeast, Minneapolis and the Twin Cities region. Minneapolis wins the day at $160 per foot. Windom is second at $147 per foot. Northeast is only slightly below that at $138 per foot and the metro area brings up the rear with a median price per square foot of $117.