Twin Cities Average Home Price by Neighborhood
There is no feeling in the world better than buying a home.
Well, at least very few match or top it how it feels. It’s the moment you realize you have made it. You no longer rent, you own … well, at least in 30 years or so you will own it. You can do whatever you want with it, and no one can say a word to you (that you know of, depending on how tacky it is).
But before you get to that point in time, you have to know where to look and what you can afford.
Some of that work comes from you by putting together a budget.
That’s the first step in the process. But you also have to be realistic when it comes to your budget. Don’t go to the top of what you’re allowed – there’s no point in being house poor. You want a home, but you want to be able to enjoy it, as well as take vacations or enjoy the city.
If you’re in the Twin Cities or soon will be, this is your basic guide to know where to look and what areas of the city you should look at – either in Minneapolis or St. Paul. We include a few from each city.
To get a more thorough picture of what you can expect from each neighborhood, Trulia has a heat map for Minneapolis and St. Paul. The numbers are from Jan. 15 to April 15.
The median sales price for homes in Lowry Hill, according to Trulia, was $722,500 based on 12 home sales. Compared to the same time a year ago, the median sales price increased 10.1%.
The average listing price for homes for sale in Lowry Hill was $1.37 million.
Lowry Hill is a neighborhood within the Calhoun-Isles community in Minneapolis. The neighborhood is named for the terminal moraine where it sits, a hill named after the late 19th century real estate mogul Thomas Lowry.
The median sales price for homes in East Harriet, according to Trulia, was $360,000 based on seven sales. Compared to the same time a year ago, the median sales price increased 35.8%.
The average listing price for homes for sale in East Harriet was $478,143.
East Harriet is a neighborhood in the southwest of Minneapolis. Its boundaries are West 36th Street to the North, Lyndale Avenue to the east, West 46th Street to the south and Lake Harriet, Lakewood Cemetery and William Berry Parkway to the west.
For St. Paul, we’ll base it on the most popular neighborhoods, at least according to Trulia.
Macalester – Groveland
The median sales price for homes in Macalester – Groveland was $303,939 based on 33 sales. Compared to the same time a year ago, the median sales price increased 3.1%.
The average listing price for homes for sale in Macalester – Groveland was $384,041.
Macalester-Groveland is the neighborhood surrounding two post-secondary institutions, Macalester College and the University of Saint Thomas. The western border is the Mississippi River with plenty of walking and biking paths along the bank of the river.
The median sales price for homes in Highland Park was $303,939 based on 37 sales. Compared to the same period one year ago, the median sales price increased 18%.
The average listing price for homes for sale in Highland Park was $382,609.
Highland Park was home for 85 years to the Ford Motor Company Twin Cities Assembly Plant where Ford Ranger and Mazda B-Series pickup trucks were produced.