Good News for Sellers in SW Minneapolis
Southwest Minneapolis has lots of advantages, and is always a good investment. Even during the Recession values held, and foreclosures were few and far between. What makes SW so popular is that it feels like a suburban walking neighborhood around Lake Calhoun and Lake Harriet, yet minutes from down town. There were 26 new construction homes sold in 2017, ranging in price $582K to $1.2 million. Most of the new homes took out an older home, and rebuilt. Even those tiny older homes are in demand to either be rehabbed, or completely rebuilt. Prices are inching up due not only to a robust market, but new costruction homes are bigger, higher priced per square foot, and affect averages.
Gracious historical homes surround the lakes, and neighborhood charm is what draws buyers to these neighborhoods. If you've heard about the Starbucks Rule: neighborhoods within 1 mile of a Starbucks hold value, then SW is a prime example. There are 17 Starbucks scattered throughout South Mpls/Richfield/Edina, plus Trader Joe's, Whole Foods, and Lakewinds. If you live in SW you are within jogging distance to one of them. Foodies delight in the resurgence of cozy restaurants and bakeries. There are at least a dozen yoga/pilates/cycle/gyms to work it all off. Urban neighbors are social, Next Door has about 12,000 users who post wants, needs, give ways, for sale, and upcoming events. The best way to get to know your neighbors is still walking the dog. No one can resist a wagging tail.