Edina New Home Prices Approach $3 Million(!)

price tagWant 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 . . .” 

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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