Minneapolis Condominiums
The largest metropolitan area in the state of Minnesota is the greater Minneapolis St. Paul area and it has become popular place for new home owners. The hottest areas for Minneapolis condominiums are North Warehouse District, North Quadrant Region, and St. Paul's Lowertown, you can find many condo developments along the Mississippi river.
Many of the new high rise developments and luxury condos have beautiful views of the city along the river. Warehouse and factory building have been turned into condos because they have stable structures that provide solid building structures for the condominiums. Some of these range from $400,000 in the lower end to over $1,800,000 for luxury penthouse condos.
Even with current recession, the market probably has seen the bottoming of prices. The inventories of condos under $400,000 have been dwindling and no now development is happening anytime soon. Many local experts are seeing price bottoming in Mills District and North Loop areas where prices are affordable at about $300,000.
But if you are thinking about selling your Minneapolis condominiums remember the average days on the market has increase 28 percent over last year to 108 days. But the inventories have declined for downtown as available condos for sale have declined by about 30 percent.
The positive news is hat the average median price have increased by 6 percent. Foreclosure rates in Twin Cities real estate market has been around 35 percent, but the foreclosure rate of condos have remained at about 8 percent which is well below the national level.
Good deals will be bringing back home buyers in the spring, make sure you wait for the right time and right condo to purchase. One thing for sure, the real estate market will rebounds from dismal 2008.
Many of the new high rise developments and luxury condos have beautiful views of the city along the river. Warehouse and factory building have been turned into condos because they have stable structures that provide solid building structures for the condominiums. Some of these range from $400,000 in the lower end to over $1,800,000 for luxury penthouse condos.
Even with current recession, the market probably has seen the bottoming of prices. The inventories of condos under $400,000 have been dwindling and no now development is happening anytime soon. Many local experts are seeing price bottoming in Mills District and North Loop areas where prices are affordable at about $300,000.
But if you are thinking about selling your Minneapolis condominiums remember the average days on the market has increase 28 percent over last year to 108 days. But the inventories have declined for downtown as available condos for sale have declined by about 30 percent.
The positive news is hat the average median price have increased by 6 percent. Foreclosure rates in Twin Cities real estate market has been around 35 percent, but the foreclosure rate of condos have remained at about 8 percent which is well below the national level.
Good deals will be bringing back home buyers in the spring, make sure you wait for the right time and right condo to purchase. One thing for sure, the real estate market will rebounds from dismal 2008.
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Right time to buy a Minneapolis condominiums, please review Minneapolis Condominiums, and Minneapolis Condominiums
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