POTW | Bottineau Nbhd

By David Arbit on Monday, September 19th, 2016

With regional institutions like Psycho Suzi’s, Gasthof’s and Jax Café, you’ve probably visited the Bottineau Neighborhood in Northeast Minneapolis without even knowing it. Several (five!) brew pubs have made the neighborhood home; Indeed and Dangerous Man are perhaps the most notable. The neighborhood spans from 17^th Ave. NE up to NE Lowry Ave. and from University Ave. NE over to the Mississippi River. In addition to parks, libraries, restaurants, coffee shops, clinics, religious institutions, schools and tap rooms, Bottineau also hosts the Northeast Minneapolis Arts Association and is in the Northeast Minneapolis Arts District.

Despite its close proximity to the arts, entertainment and downtown jobs, Bottineau is a relatively affordable community when it comes to housing. The median home price is $213,000 in the neighborhood, $225,000 in the city and $229,115 in the metro.

That doesn’t mean sellers are accepting unreasonably low offers compared to their list price, especially considering the fact that this area only has 1.0 month supply of inventory—suggesting a rather tight balance between supply and demand. But it’s also important to understand that this market has relatively thin activity.

Consistent with low months supply of inventory readings is of course relatively short days on market readings. Homes in Bottineau tend to go under contract after a median of just 19 days on the market. That figure grows to 28 for Minneapolis and 34 for the whole Twin Cities.

Be sure not to miss the next Art-A-Whirl!