New Construction Real Estate Statistics
|Average New Build Price||$540K|
|Avg. Days On Market||20|
Property Types (active listings)
Newly Constructed Homes For Sale In Minneapolis, MN
|All Listings||$100,000 - $200,000||$200,000 - $300,000|
|$300,000 - $400,000||$400,000 - $500,000||$500,000 - $600,000|
|$600,000 - $700,000||$700,000 - $800,000||$800,000 - $900,000|
|$900,000 - $1,000,000||Over $1,000,000|
Minneapolis New Homes: Trends Toward Urban living
The majority of new construction in the Minneapolis area is related to multi-dwelling units, or apartments and condominiums. Approaching half of the money spent on new building permits in the past years have gone toward new apartments and premium condos, most notably in the University neighborhoods surrounding the University of Minnesota and the North Loop communities. This shows a marked trend of couples and families preferring to spend their money on premium spaces within the urban environment rather than gearing toward suburban living, as in the past.
This makes sense. Many young people see the value in purchasing more affordable condominiums that contain many luxury items and amenities that may be out of reach in a full-sized home. You also gain the added benefit of being where the action is, closer to Minneapolis' urban center.
A Greener Minneapolis: New Construction Solutions
However, there are still those that prefer the comfort of the more suburban Minneapolis new homes. A new home can offer several cost benefits over the long run when compared to purchasing an older home. In addition to the costs associated with keeping and maintaining an older home, newer homes are often constructed using newer, longer-lasting materials in the insulation and windows especially that can potentially offer significant savings on your heating bill each month. As well, new homes often come equipped with attractive new stainless steel appliances built more energy-efficient to save you even more money.
Newly constructed homes may also have the added benefit of giving you even more input in the finishing touches and more choice when it comes to layout and even paint color. This way you can ensure that the home you purchase truly becomes the home you've always dreamed of.
Contact us today and let the Ben Ganje Team find the best in Minneapolis new homes that align with your personal tastes and lifestyle, whether you prefer suburban comfort, or the excitment of an urban condo!