Home Prices vs. Price Per Square Foot If all you had to go on was the graph (above) showing median home sale prices, it would be easy to field the question, “Which suburb is more expensive, Minnetonka or St. Louis Park?” Answer: Minnetonka, where the median sales price of $340k (as of September 2018) easily eclipsed...Read More
Twin Cities Short Sales, Foreclosures Fall to 7% The general public may not be aware, but local Realtors certainly are: the percentage of distressed sales in the Twin Cities is now about 7%. That’s a far cry from the +50% level breached just four years ago. Amongst other benign effects on the local housing market:...Read More
. . . . When Overall Housing Prices are Static How can housing prices (average and median) be galloping ahead in some Twin Cities neighborhoods, when overall prices are only modestly rising (from still very low levels)? Easy. Explanation #1: not all neighborhoods are experiencing modest appreciation — some are doing GREAT; and Explanation #2: tear-downs....Read More
