Apr 27, 2024 - Real Estate

What $325K gets you in Twin Cities' real estate market

smaller house with steps

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

living room with stairs
Photo: Courtesy of Jennifer Ivers with Coldwell Banker Realty.
small but updated kitchen
Photo: Courtesy of Jennifer Ivers with Coldwell Banker Realty.

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

outside of house
Photo: Courtesy of Tanner Hagen with eXp Realty.
view of living room from porch
Photo: Courtesy of Tanner Hagen with eXp Realty.
modern open kitchen upstairs
Photo: Courtesy of Tanner Hagen with eXp Realty.

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.
avatar

Get more local stories in your inbox with Axios Twin Cities.

🌱

Support local journalism by becoming a member.

Learn more

More Twin Cities stories

Twin Citiespostcard

Get a free daily digest of the most important news in your backyard with Axios Twin Cities.

🌱

Support local journalism by becoming a member.

Learn more