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Real Estate Examiner

Housing prices case study: Minneapolis

POSTED May 8, 10:54 AM

I did a radio interview this morning on Minneapolis home prices on WCCO-AM radio. Here are the highlights:

home prices in the Minneapolis MN area were down 5% from a year ago
Condos are faring worse than houses, especially smaller condos
- condos worth less than $179,000 were down 12%
In terms of specific parts of Minneapolis
- St. Paul home prices were down 8%
- Bloomington home prices were down 7%
- Edina home prices were down 11%
- Brooklyn Park home prices were down 11%
The further you are from the city center of Minneapolis, the worse off you are: areas east of Woodbury and west of Plymouth and Minnetonka were down 12% or more
Looking for a silver lining? Over the last 10 years, home prices overall in Minneapolis were up 6.3% per year on average. Not bad, when you take a step back and look at things from a high level.

If you want the gory detail on Minneapolis house values, check out our excel reports.

Categories: house prices , home values

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Spencer Rascoff
Spencer Rascoff is CFO and Vice President of Marketing at Zillow.com, one of the leading Real Estate sites. Here he will help you better understand and respond to the ever-changing market.