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Market Insight | Spring Analysis of Downtown Minneapolis

Posted by Chad Larsen on Thursday, June 1st, 2017 at 2:11pm.

Downtown Minneapolis Real Estate Market Insight

Barry Berg and Chad Larsen are licensed realtors with Coldwell Banker Burnet Minneapolis Lakes Office
 Quality real estate data has never been more reliable. Fact is, many Realtors don't know how to find or use it. The Berg Larsen Group analyze market data carefully to help our buyers and sellers. Below are a series of charts that we reference regularly to keep the pulse of the Twin Cities market. If you have questions, let's talk!


The Spring Selling Season: Downtown Minneapolis Pending Sales

Signs of an early and active Spring real estate market.

May, 2017 - Pending Sales in the Twin Cities metro real estate market are rising quickly, as they did this time last year. The bulk of the early uptick in Pending Sales have been in ranges that are showing improvement over past years, namely those homes in values over $500,000. Over the entire region, we are seeing the pace of Pended Sales in the $250-499K range (red) outpace those homes priced under $250,000 (blue).  This is a bit of a watershed moment. This shift is driven by the downward trend in the levels of inventory in this entry segment of the market. Note on the Homes for Sale chart that in April 2017 the numbers of homes for sale priced under $250,000 is just 36% of what was available 3 years ago, in April of 2014. With so little inventory available in this price range, a reduction in the number of Pending Sales is to be expected. At higher price points, the number of Pending Sales is experiencing modest percentage improvements that translate into a meaningful, and noticeable increase in activity “in the neighborhood”.

When looking at the Micro level, each community will behave differently. Take a look at the charts below. These charts update monthly, so revisit the page in the coming months, and years to see what trends you can spot. 

This chart is interactive, slide cursor over graph for detailed information.

For our data, Downtown Minneapolis, consists of condo's and town homes the following neighborhoods: Downtown East, Downtown West, Northloop, Marcy Holmes, Nicollet Island, Elliot Park, Steven Square, Loring Park and East Town

If you have questions or would like to learn how the market activity is affecting you and your neighborhood, utilize our insight by calling on our team, 612-925-8411. Let's Talk!


Downtown Minneapolis New Listings By Price

This chart is interactive, slide cursor over graph for detailed information.


Downtown Minneapolis Homes For Sale

This chart is interactive, slide cursor over graph for detailed information.


Downtown Minneapolis Closed Sales

This chart is interactive, slide cursor over graph for detailed information.


 

 Select a community below for detailed information on that area:

Minneapolis | Southwest Neighborhoods

Minneapolis | Calhoun-Isles Neighborhoods

Minneapolis | Nokomis Community

St. Paul

Eden Prairie

Edina

Lake Minnetonka Area

- Not seeing your neighborhood? Call us and we'll make on exclusively for you! -

 

BergLarsenGroup
Coldwell Banker Burnet

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Coldwell Banker Burnet | Minneapolis Lakes Office
3033 Excelsior Boulevard, Suite 100 Minneapolis, MN 55416
Office: 612-925-8455 | Fax: 612-924-4308 | Chad@BergLarsenGroup.com

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