Home Value Trends in Minnesota

If you're still hearing real estate experts whiningstate can be broken into 4 main sections, each
and moaning about the state of the market, theoffering it's own unique attractions. The
bursting of the bubble, or the plummeting ofNorthwest/Central area has the largest lakes,
home value averages, just tune them out. Sure,prairies and bogs, it is the source of the Mississippi
nationally, the market isn't the booming moneyRiver and the is the home of the legend of Paul
tree is was 3 years ago, but that does not meanBunyon, the famous bigger than life lumberjack.
it's dead either. Besides, knowing how long homesThere are plenty of resorts to stay in with
are staying on the market nationwide or thegolfing, music and theater, museums and historical
median home value of the nation (it was $221,900sites readily available. The Northeast region is the
in 2006) isn't going to help you much when you'rescene of many lakes, tumbling rivers and lush
ready to move.forests, perfect for the outdoor recreations
Real estate is an investment, so make surementioned earlier. The Southern portion of
you're moving somewhere your home value isMinnesota is all about scenic valleys, wooded bluffs
likely to appreciate decently over the years. But ifand peaceful prairies. Numerous historic sites
you're like me, you probably can't tell the future,honoring Dakota Indians and the pioneers alike are
so how are you supposed to figure that one out?spread throughout the area, as are antique shops,
Simple: good, old fashioned research. Research thehistoric architecture and ethnic festivals.
past home value and rate of sale trends in aLast but not least is the Metro area, the home of
specific area, as well as its population, jobthe Twin Cities, where hip, urban Minneapolis
opportunities, economy, unemployment rates andmeets gentrified, historical St. Paul. A wide
the attractions it holds to visitors. Those variousspectrum of metropolitan experiences is the
factors can give you a fair idea of where homeresult, including, but not limited to: art, history and
values in a given area may be headed over thescience museums, stage performances, zoos,
years.family-friendly entertainment, shopping, a live
Minnesota, home of the Twin Cities (one of which,music scene, dining, clubbing, bar hopping and
St. Paul, is the capital city) has a population oftheater. The area combines urban comforts with
about 5,167,101. Their economy is based ona beautiful natural setting including lakes, rivers,
agricultural products such as: dairy, corn, cattle,parks and trees. With so much to do, and a large
soybeans, hogs, wheat and turkeys and onmetropolitan area, it's a fair bet to say home
industrial sectors such as machinery, foodvalue prices, at least in the metro area, are
processing, printing and publishing, fabricated metalconstantly on the rise.
products, electric equipment, mining and tourism.Minnesota also has middle to low unemployment
With a large population and a strong economy, it'srate, staying steady at about 4.6% over the past
obvious Minnesota is a favorable spot to live,couple months, with a rise in jobs in trade,
which usually means high home value averagestransportation and utilities and education and health
and faster sales. Of course, the tourism factorservices. Government, construction and
and attractions an area has to offer can have amanufacturing jobs seem to have slipped
big impact on the amount of new residents drawnsomewhat. The median household income was
in as well.about $52,024, higher than the national median
Minnesota has tons of state parks for outdoorand the median home value sales price in 2006
adventures such as camping, hiking, fishing, biking,was about $235,000. The median home value in
boating, landscape and wildlife viewing, etc. TheApril 2007 was $260, 277.