Minneapolis Strong

This summer, Minneapolis, along with the rest of the world, is recognizing the one year anniversary of George Floyd's death.

Shortly after his murder, when protests and violence arose, some people began wondering aloud whether property owners might leave Minneapolis and whether home values might decrease.

And it's true that from May 2020 (just prior to the violence in Minneapolis) through April 2021, Minneapolis experienced a 14% increase in the number of homes for sale—folks moving out of the city—while the Twin Cities metro saw a 28% decrease in home listings. (You've no doubt heard about the lack of homes for sale in our area.) But here’s the interesting part: Home prices in Minneapolis didn't fall—they rose 7% during that same period. Plus, homes surrounding the core of the protests and riots (a six-square-mile circle around Lake Street and Chicago Avenue) have risen 10% in price. In fact people did leave the city in large numbers over the last year, but there have been so many people interested in buying those homes, that prices actually rose.

It seems people recognize great value in these core Minneapolis neighborhoods. Personally, I know one couple who recently bought a home in the Central neighborhood—specifically so they could invest, both personally and financially, in the community. They look forward to being active in their neighborhood association.  Another good friend lives just a few blocks from 38th and Chicago. He and I recently walked many blocks in the Powderhorn and Bancroft neighborhoods. And it’s clear from the signs, the art, and the people one meets there that folks want to invest in Minneapolis and be part of the solution. That’s good news for real estate and, more importantly, for our Twin Cities.

If you’re interested in moving to Minneapolis or another desirable neighborhood, please reach out. I'd be happy to help.