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In Twin Cities, once-obscure suburbs are the new hot housing markets

"The top five housing markets in the Twin Cities last year were all working-class suburbs such as West St. Paul and Brooklyn Center, where sellers got double-digit price gains, full-price offers and quick sales, according to the Star Tribune’s 2019 Hot Housing Index, which tracks changes in sale prices, market times and other key indicators for more than 100 metro cities.


"In all of those top markets, nearly 90% of the sales were for less than $300,000, with an average sale price (per square foot) that increased 17% or more over the previous year.


"Those gains are being driven by first-time buyers and downsizing baby boomers who have been priced out of newer, more expensive suburbs and popular urban neighborhoods.


“It’s definitely about affordability,” said Sharry Schmid, president of Edina Realty."


Full article here.

Photo by Jerry Holt Star Tribune

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