Edina New Home Prices Approach $3 Million(!)
Want to know what the price ceiling for a new Edina home is today (at least, in white-hot East Edina)?
Traditionally, land accounts for 25% to 33% of the total cost of a home, including the land.
If the Buyer has a $900k budget for just the land — actually more, once tear-down and lot prep expenses are accounted for — their “all-in” budget is about . . . $3 million.
See also, “Tear-Down Economics“; “Tear-Down Prototypes“; “Tear-Down Economics, Circa 2012”; and “You Know It’s a Tear-Down When . . .”
