Home Value Trends in Minnesota

If you're still hearing real estate experts whining andcan be broken into 4 main sections, each offering it's
moaning about the state of the market, the burstingown unique attractions. The Northwest/Central area
of the bubble, or the plummeting of home valuehas the largest lakes, prairies and bogs, it is the
averages, just tune them out. Sure, nationally, thesource of the Mississippi River and the is the home of
market isn't the booming money tree is was 3 yearsthe legend of Paul Bunyon, the famous bigger than
ago, but that does not mean it's dead either. Besides,life lumberjack. There are plenty of resorts to stay in
knowing how long homes are staying on the marketwith golfing, music and theater, museums and
nationwide or the median home value of the nationhistorical sites readily available. The Northeast region is
(it was $221,900 in 2006) isn't going to help youthe scene of many lakes, tumbling rivers and lush
much when you're ready to move.forests, perfect for the outdoor recreations
Real estate is an investment, so make sure you'rementioned earlier. The Southern portion of Minnesota
moving somewhere your home value is likely tois all about scenic valleys, wooded bluffs and peaceful
appreciate decently over the years. But if you're likeprairies. Numerous historic sites honoring Dakota
me, you probably can't tell the future, so how areIndians and the pioneers alike are spread throughout
you supposed to figure that one out? Simple: good,the area, as are antique shops, historic architecture
old fashioned research. Research the past homeand ethnic festivals.
value and rate of sale trends in a specific area, asLast but not least is the Metro area, the home of
well as its population, job opportunities, economy,the Twin Cities, where hip, urban Minneapolis meets
unemployment rates and the attractions it holds togentrified, historical St. Paul. A wide spectrum of
visitors. Those various factors can give you a fairmetropolitan experiences is the result, including, but
idea of where home values in a given area may benot limited to: art, history and science museums,
headed over the years.stage performances, zoos, family-friendly
Minnesota, home of the Twin Cities (one of which,entertainment, shopping, a live music scene, dining,
St. Paul, is the capital city) has a population of aboutclubbing, bar hopping and theater. The area combines
5,167,101. Their economy is based on agriculturalurban comforts with a beautiful natural setting
products such as: dairy, corn, cattle, soybeans, hogs,including lakes, rivers, parks and trees. With so much
wheat and turkeys and on industrial sectors such asto do, and a large metropolitan area, it's a fair bet to
machinery, food processing, printing and publishing,say home value prices, at least in the metro area,
fabricated metal products, electric equipment, miningare constantly on the rise.
and tourism. With a large population and a strongMinnesota also has middle to low unemployment rate,
economy, it's obvious Minnesota is a favorable spotstaying steady at about 4.6% over the past couple
to live, which usually means high home valuemonths, with a rise in jobs in trade, transportation
averages and faster sales. Of course, the tourismand utilities and education and health services.
factor and attractions an area has to offer can haveGovernment, construction and manufacturing jobs
a big impact on the amount of new residents drawnseem to have slipped somewhat. The median
in as well.household income was about $52,024, higher than
Minnesota has tons of state parks for outdoorthe national median and the median home value sales
adventures such as camping, hiking, fishing, biking,price in 2006 was about $235,000. The median home
boating, landscape and wildlife viewing, etc. The statevalue in April 2007 was $260, 277.