Out:  Gaudy.  In:  Practical

Hummer’s are out, BMW 3’s and 5’s are in.

Auto’s, right?

Those, too, but I was thinking about the housing market equivalent:  well-built and updated homes with all the bells & whistles in high-demand Twin Cities neighborhoods like Tyrol (Golden Valley), Fern Hill (St. Louis Park), and Linden Hills (Southwest Minneapolis).


Less than you might guess; judging from what I’ve seen this Spring, the ideal seems to be anywhere from high two’s (over 2,700 FSF) to mid-three’s (3,500 FSF) — provided the home’s floor plan is open and flowing.

Size “Sweet Spot”

What’s magic about that size home?

Put it this way:  few Buyers today want (or need) the upkeep and maintenance — never mind property taxes — associated with a truly large home (over 4,000 square feet or so).

And fewer Buyers still want to tackle updating such a home.

Too, Buyers today want to feel that they’re using all the space they’re paying for.

The net result is that I see lots of older, bigger Twin Cities homes listed for $700k-$900k these days and seemingly languishing on the market.

Meanwhile, houses that are substantially smaller — but are new or completely updated — are asking only a little less . . . and selling much more briskly. 

About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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