What’s the Real Deal With TC Real Estate?

Two seemingly conflicting stories about Twin Cities real estate market have emerged: The New York Times posted an article about what $830,000 will get you in various markets. Quite a bit, it seems. The home they featured is a five-bedroom, five-bath house with Victorian and Prairie influences in the Lowry Hill neighborhood—priced at a meager $162 per square foot. It’s a steal compared to the $365 in Charleston, SC and $222 in Huber, Utah.

At the same time, MPR News is reporting Minnesota is rated the least affordable state for housing in the Midwest. Based on a low-income housing coalition, the study says a person would have to work two full time jobs to afford a modest two-bedroom apartment in Minnesota.

It seems it’s all a matter of perspective, but what do you think? Comment below.

One thought on “What’s the Real Deal With TC Real Estate?

  1. Jenso

    It may be a buyer’s market with the number of properties for sale right now, but maybe not quality. Since lots of sellers are on a budget too, I’m seeing a lack of effort to improve properties while still asking above market value (can you even get a home loan for that?) It’s also a tough time if you already own a home you need to unload – the sellers are often unwilling to get into a contingent situation since your home may take months to sell. A realtor recommended we sell first and move into a rental property until the ideal home comes along in 1-2 years. No thanks, I guess we’ll stay put.

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