What $325K gets you in Twin Cities' real estate market
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A two-bedroom Columbia Heights home that got multiple offers. Photo: Courtesy of Jennifer Ivers with Coldwell Banker Realty
Robbinsdale, Columbia Heights and Corcoran are the latest homebuying hot spots in the Twin Cities.
The big picture: Those cities notched among the largest increases in the number of homes sold in March compared to a year ago, according to Minneapolis Area Realtors.
What they're saying: It's not unusual for a Columbia Heights home to see multiple offers days after it's listed, real estate agent Tanner Hagen tells Axios.
State of play: More people are shopping for homes in relatively affordable areas like Columbia Heights and Robbinsdale because of higher mortgage rates, David Arbit, director of research at MAR, tells Axios.
- Pricier locations — the median in Corcoran was $590,450 — are popular among cash buyers and those with equity from their previous homes, who are less fazed by interest rates.
Between the lines: The median sales price metro-wide was about $366,000 in March, up 2.8% from a year earlier, per Minneapolis Area Realtors.
- We scoured listings to find what shoppers can get for the typical price in some of the Twin Cities' sought-after suburbs.
Upgraded in Columbia Heights
Listed for $215,000, a two-bedroom house packs a host of upgrades into 715 square feet, including new kitchen appliances, flooring and more.
Yes, but: Don't start packing, because the sellers accepted an offer less than a week after the home hit the market.
- Columbia Heights homes typically sold for $250,000 in March, per Minneapolis Area Realtors data.
Backyard oasis in Columbia Heights
For $325,000, Hagen's three-bedroom listing offers an updated kitchen and ample outdoor entertaining space.
- He expects a quick sale, given the amount of online clicks and buyers "favoriting" the home in the MLS. (The sellers accepted an offer days after the home was listed.)
Super-sleek in Robbinsdale
For $285,000, a three-bedroom house that's now set to close caught our eye with its ocean-blue paint and modern bathroom.
- Robbinsdale homes typically sold for $310,500 in March, MAR data shows.