The Twin Cities is a thriving metropolis, home to beautiful outdoor recreational areas, unique neighborhoods and affordable housing. Should the Minneapolis/St. Paul area be your next home? Here are the top trends in Minneapolis real estate to help you decide.
Median Home Sales Price
One of the great things about the Twin Cities area is the affordable price of homes. In Minneapolis, the median sale price for homes was $226,750 based on 570 sales as of May 2016. In St. Paul, you can save even more, with their median sales price sitting at $193,848. When you compare that to the median home value in the United States as a whole at $198,000, you can see that there are some great deals to be had in the Twin Cities.
Before purchasing a home, find a realtor that knows the ins and outs of the local market. With years of experience in the area, the AD Hays Group specializes in a wide variety of Twin Cities real estate and will help you find a home that’s right for you, at the right price.
Neighborhoods on the Rise
Two of the trendiest metro home markets for 2017 are the Folwell and McKinley neighborhoods, both situated in north Minneapolis. While this area has been economically challenged in the past, that’s changing rapidly, with home value forecasts rising to 7.8 percent in Folwell, a quaint and charming neighborhood, and 7.6 percent in McKinley, a quiet and residential area.
Since 2008, North Minneapolis has seen the biggest value increases because it was hit especially hard in the foreclosure crisis. Because of this, homes in the area are affordable, particularly for first-time home buyers.
According to Zillow, other neighborhoods slated for noticeable increases include St. Anthony East (6.8 percent) and Central (6.8 percent), both of which are in Minneapolis. The Dayton’s Bluff neighborhood in St. Paul is also on the rise, with market predictions showing that home values will climb 6.7 percent.
Compared to other midwestern markets, the Minneapolis housing market is also more stable and consistent, meaning short-term forecasts for home value increases are not as high as in other metros, which ultimately benefits the consumer.
Things to Do in the Twin Cities
There are endless things to do in the Twin Cities, with residents taking advantage of all four seasons.
Summer is the best time of year in Minnesota, with residents heading outdoors to enjoy their many lakes, parks and trails. While it can get hot in July and August, it’s generally nice throughout the entire season. You can visit one of the many lakes in the metro region, where you’ll be among beach-goers, bikers and kayakers.
Other things to do include Rock the Garden, which is a music festival hosted in the Walker Art Center Sculpture Garden, and hosts popular acts and activities throughout the day-long event; visit the area’s biggest waterfall at Minnehaha Falls, and enjoy lunch and a cocktail at the outdoor restaurant located on the grounds; or rent a bike and ride along the miles of paths running throughout the city.
In autumn, all of the foliage is gorgeous to look at, as it turns color. The temperature cools down as people prepare for winter. Take full advantage with a visit to Fort Snelling, an expansive state park located along the Mississippi River, which runs between Minneapolis and St. Paul. Explore the historic grounds and escape the pressures of the city.
If you’re a dog owner, you may be happy to know that there are dozens of off-leash dog parks in the Twin Cities. Take your pup out and enjoy the fresh, crisp air that autumn in Minnesota brings.
Although the winters are notoriously cold, Minnesotans embrace the drop in temperature and accompanying snow. Some of the biggest events and festivals of the year are during the winter months, such as the St. Paul Winter Carnival, the nation’s largest winter carnival.
Skiing fans can catch cross-country skiing and skijoring races during Uptown’s Loppet festival. If you’re a big craft beer fan, the Beer Dabbler hosts brewers from all over the country as thirsty event-goers taste-test beers and brave the weather. And, of course, there are a ton of hockey rinks set up in parks around the cities that you can skate and play on.
When the snow melts, spring brings sunny weather and mild temperatures to the metro region. As trees and flowers blossom, it’s a great time to get outside and enjoy the new season. Take a walk through the newly renovated Minneapolis Sculpture Garden and enjoy priceless works of art and manicured grounds. Or venture downtown to the Stone Arch Bridge, and take in the view of the spectacular St. Anthony Falls to the north.
Spring is also a great time to explore many of the farmer’s markets that pop up throughout the area. Enjoy fresh produce and locally made products while enjoying the first warm weather of the year.
Ready to Call the Twin Cities Your Home?
As a thriving metro, the Twin Cities offer many amenities and luxuries to the average home buyer. If you’re thinking of making the move to the area, call AD Hays Group today and we’ll guide you through process one step at a time.