Why Edina is in Such High Demand

It shouldn’t come as surprise that, in a city where the average asking price for a single-family home is now $1.422 million, and the most expensive list price is $3.895 million, entry-level home prices will be dear, too.

In fact, starter homes in consistently high-demand Edina begin around $500k.

Can you find an Edina home for less?


However, such homes typically have one (or more) of the following six attributes: 1) they’re small (under 1,500 finished square feet or so); 2) they’re dated; 3) they only have a one-car garage (or none); 4) they’re located on a busy street (like Xerxes, France, or Blake); 5) they lack curb appeal; and/or 6) they’re zoned for Hopkins, not Edina schools.

Out of 77 single family homes currently for sale in Edina, exactly six are listed for under $500k.

Edina Pluses

So, what’s the case for paying $500k (or much more) for an Edina starter home?

–It’s Edina (come on!).
–Edina’s award-winning public schools (subject to Attribute #6. above).
–Edina’s overall terrific housing stock, including some of the most beautiful homes (and neighborhoods) in the Twin Cities.
–Edina property taxes: the lowest in the Twin Cities, and positively a bargain compared to Minneapolis.
–Easy access to Downtown Minneapolis and its Chain of Lakes (just to the northeast).
–Edina home appreciation.

Scarcely five years ago, the floor for a single-family Edina home was mid-$300’s — that’s a (very) healthy 43% pop since then. Of course, Edina homes have also appreciated well, long-term.

Bottom line?

Edina home buyers know that, when it comes time to sell, all those pluses will ensure strong demand for their home.

P.S.: Edina is also where Edina Realty founder Emma Rovick opened her first office in 1955, about a block from the movie marquee pictured above near 50th & France.

See also, “Starter Home,” Defined.

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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