For decades now, the real estate industry has been both humbled and invigorated by the strong and direct relationship between the labor and housing markets. As goes the economy, seemingly so goes housing. That relationship was especially clear after the 2007 recession. The economy added 163,000 jobs in July, the highest figure since February. Our economy is growing, but not as quickly as many would like. Meanwhile, inventory drops and surging buyer demand from renters and first-timers are anchoring home prices and giving sellers more power than they’ve had in years, in many cases.
In the Twin Cities region, for the week ending July 28:
• New Listings increased 8.3% to 1,430
• Pending Sales increased 20.9% to 1,149
• Inventory decreased 30.5% to 17,103
For the month of June:
• Median Sales Price increased 10.2% to $178,600
• Days on Market decreased 22.0% to 113
• Percent of Original List Price Received increased 4.1% to 95.1%
• Months Supply of Inventory decreased 42.6% to 4.6
Click on any graph below to enlarge it.
As reported by the Minneapolis Area Association of Realtors.
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Spacious and sun-filled duplex in Linden Hills.
Short walk to Lake Harriet and the Linden Hills business district.
Main Floor Unit:
2+ bedrooms and 3 baths.
Open floor plan.
Three-sided gas fireplace between living and dining rooms.
Updated kitchen is open to dining room.
Master suite features an arched window and a row of glass-block atop the wall separating the bedroom and dining room.
Lower level includes a family room with built-in cabinetry and “bar” with sink and fridge. This space can also be a guest suite with Murphy bed and its adjoining bath. A French door at the bottom of the stairs provides greater privacy from the main floor.
Laundry and mudroom by attached garage. Laundry room has Duet® washer and dryer.
Other highlights include a deck and courtyard and an attached double garage.
Main unit finished square feet: approximately 2,090
Two-level unit on 2nd and 3rd floors.
Private entrance at front of property and two private interior entries.
3 bedrooms and 2 full baths.
Large living room, formal dining room and eat-in kitchen on 2nd floor.
Gas fireplace in living room.
Two bedrooms and a bath on the 2nd floor.
3rd floor includes a bedroom, sitting room, full bath, laundry, and deck.
Numerous skylights on the 3rd floor.
Decks off of living room and kitchen on 2nd floor.
Upper unit total finished square feet: Approximately 1,800
For additional information or to schedule a private showing of this fine property, please contact:
Lakes Area Realty