Minnnesota... Home Prices are Too Expensive!!!

6 years ago

When Compared to the Rest of the US

500 most expensive zip codes

I have heard from so many people lately that prices in MN are going up to quickly... that homes are over priced... that maybe they should wait to buy... Homes are selling in Multiple Offers and it feels like I cant compete... Minnesota is one of the most expensive states to purchase a home in... AHHHH... what is a Minnesotan to do???

*Are prices up from where they were last year??? YES

*Are rental prices up from where they were last year??? YES

*Are homes over priced??? It's subjective I suppose... The law of Supply and Demand is driving prices up. But buyers are still there and they are still buying without pause... So, this question can only be answered by each individual.

*Should I wait to buy until next year? NO~ Prices are rising. You will pay more next year than you would have if you purchased next year. Both for the price of the home and the interest rate that you will get. The 'predictions' are that we will see an increase in home prices and in interest rates as the year progresses.

I have strategies to help you purchase a home and not involve yourself in multiple offers. Reach out to me and we can discuss how to best get you into that home you are looking for!

Do you have a home to sell first and are hesitant to list for fear of what you will do when it sells? I have strategies to help with this too. Reach out to me and we can discuss them. Find out what your home is worth here.

*Is Minnesota one of the most expensive places to purchase a home? Forbes.com published a great article to give our MN Market some perspective. In a list of the top 500 zip codes for most expensive homes, Minnesota only made the list one time. Minneapolis, 55403 came in at #316. No other zip codes in Minnesota made the list... Take note of the many CA, FL and NY zip codes if you plan to relocate tho! Those three states were on the list of the top 500 MANY MANY times!

Read the full Forbes.com article here