Sue Hewitson said, “We are seeing immediate changes in the market – things are moving quicker.”
Corey Robertson said, “Plymouth/Wayzata Schools – the school district is making these areas hot. Not many listings under $500,000.” Andy Fazendin and Carol Alber shared Minnetonka and Eden Prairie schools are also hot areas too! And Arlo Dissette piped in so is St. Anthony/New Brighton school district and SW Minneapolis – Southwest High School is highly rated according to agent Carrie Swanson. So all agreed school districts do make a big difference in making or keeping an area hot.
People are loving Linden Hills area – due to walkability and location. We seem to be experiencing a crunch in this area – young people and empty nesters are all wanting to be in this area.
Minneapolis by the River is also a strong area and agents are noticing that the condo market downtown is changing. There are not many condos in inventory and this is a big shift. They are also seeing stabilizing prices and sellers being more realistic.
People who have been on the fence about selling – may now be willing to try it – especially if they are in a “hot” area – like Edina, SW Minneapolis. This is still somewhat segmented, but it’s starting to turn.
The rental market is also hot right now – which can be good for investors or for people renting, thinking about buying, instead of signing another lease.
What’s not so hot –
Steps – people do not want steps – steps are out for all ages. Every one laughed thinking what an oxymoron this was – they want walkability in their neighborhood, but no steps in their homes?!? Outer ring suburbs are a little slower to recover.
Areas where our agents have been showing during the month of July are (these are in no particular order):
SW Minneapolis, St. Louis Park, Minnetonka, Fairbault, NE Minneapolis, Edina, Bryn Mawr, Eden Prairie, Richfield, Plymouth, Prospect Park, Long Lake, Orono, Downtown Minneapolis, Golden Valley, and North Minneapolis.
Stay tuned for more fun tidbits from our experienced, knowledgeable team of residential real estate agents at Fazendin!