North Minneapolis Forecasted to Strong Price Gains in 2017

Zillow recently reported that their forecasted reports show that the two “hottest” real estate markets in the Twin Cities metro are located in North Minneapolis.  The Folwell and McKinley neighborhoods located in North Minneapolis were forecasted by Zillow to have home price increases of 7.6 and 7.8 percent.  The theory is that throughout the Twin Cities, as we’ve experienced market wide price gains over the past few years, that some buyers are being priced out of other areas of the market, and are seeking more affordable options.  This market trend would drive more demand to areas like the Folwell and McKinley neighborhood, thus driving up home prices.

North Minneapolis also took a big hit in the foreclosure crisis several years back, and as the market has recovered, North Minneapolis has seen steady price gains.  Affordability has also been great for first time homebuyers in North Minneapolis, with the median home value in the neighborhoods ranging from $120,000 to $123,000 dollars.

Prices overall throughout the Twin Cities are expected to stay steady and even increase in many areas.  To search for Minneapolis homes for sale, click the link below:

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