The Twin Cities real estate market is on the rise in 2017, with many neighborhoods offering fantastic investment opportunities. For those buyers that are searching for a property that will appreciate over time, there are several areas in the Twin Cities worth considering.
If you’re looking for a good place to make a real estate investment, here are some of the most promising suburbs and neighborhoods to look at.
Richfield is an up-and-coming suburb, located just north of South Minneapolis and in between Bloomington and Edina. While the houses here aren’t the largest or most luxurious, they’re much more affordable than almost any other in-demand market in the Twin Cities. The area’s homes are attractive to first-time buyers who may not be capable of buying in Minneapolis proper, but still want to live in a walkable, convenient area that’s still close to town.
According to the Star Tribune, houses in Richfield sold for an average $133 per square foot last year, compared with a pre-recession peak of $146. Compared with a combined average of per-square-foot prices from 2012 to 2015, prices last year had increased 19 percent, suggesting a strong post-recession rebound.
With good schools, low crime rate, plenty of things to do and affordable housing, Eden Prairie is an up-and-coming place to invest in real estate. A family-friendly Twin Cities suburb, Eden Prairie has a suburban feel with many walking paths, parks, shopping centers and restaurants. With a nice mix of natural recreation and city life, this town is just a 20-minute drive from the downtown areas of Minneapolis and St. Paul.
This middle to upper-middle class suburb offers a quiet getaway with plenty of amenities, perfect for families of all types. With plenty of places to shop and dine, wooded parks with picturesque walking paths, and affordable housing, Woodbury presents a wonderful investment opportunity. This suburb is a great mix of big city and suburban living to suit all types of home buyers.
This Twin Cities suburb is perfect for those residents that love the convenience of amenities. In Shoreview, you can walk almost anywhere for groceries, entertainment, shopping and more. The best parts of this suburb are its beautiful lake and extensive trail system. While lacking on nightlife, the school system is one of the best in Minnesota, making it a great place to raise a family. The median home value is just $233,000, giving first-time home buyers, or those buying on a budget a great opportunity to purchase a home in a reputable area.
Nestled in northeast Minneapolis right on the banks of the beautiful Mississippi River, the Bottineau neighborhood is welcoming first-time buyers who aren’t able to afford homes in other parts of the Twin Cities. With gorgeous, understated homes that are being bought up rapidly, the average time on market for homes in this area is just 29 days. The median price per square foot in 2016 was more than 30 percent higher than the previous four-year average. If you’re looking for a solid real estate investment in the Twin Cities, look at property in this neighborhood – you may want to act quick!
Located nearby Bottineau, the Holland neighborhood has seen some incredible price gains over the past year, where sellers received 100 percent of their asking price. This tells us that a majority of the sellers received multiple offers. In this neighborhood, residents enjoy a quick commute to downtown Minneapolis, plenty of restaurant and shopping opportunities and plenty of entertainment options as well.
Invest in Twin Cities Real Estate Today!
Now that you know some of the hot areas to buy real estate, start your search for your ideal investment today. With the market on the rise this year, there are plenty of areas in the Twin Cities offering valuable property.
Need help getting your home investment process started? Contact AD Hays Group today! We’re the Twin Cities’ premier provider of residential and commercial real estate services. Find out why our customers continue to choose us. Get in touch with one of our dedicated account managers who will help you find your dream property.