Minneapolis And Edina Real Estate Market
The Minneapolis metro real estate market is an interesting market. If one is listening to all of the press, one is under the impression the sky is still falling unilaterally in our local housing market. Such is not always the case.
If you subtract from the equation the suburban (2nd and 3rd tier) distressed/REO properties (short-sales and foreclosures), all condos and townhomes, a much different picture appears.
Single family homes within the belt, and especially within the ring East of 169, South of 394, North of 494 and West of 35W is actually doing much better. New listings are down 9% from this time last year, prices are not reduced nearly as much, and when a nice property appears, that is priced right, we see the occasional multiple-offer.