Minneapolis-St. Paul Housing Market Conditions
New homebuilders are feeling a slowdown in builds due to a lower demand. There is still a peaking quick move-in inventory. Multi-family construction is seeing growth and rents are remaining steady.
This may be due to voter-approved rent control as new construction is exempt. High mortgage rates continue to be the blame for new home construction decline. With a lower unemployment rate and projections of growth in future jobs, this area is still a good place to buy in the big cities and suburbs, new homes for sale.
Things to Do in Minneapolis & St. Paul, MN
The Twin Cities is a beautiful metropolitan area filled with culture, entertainment, recreation and amenities. Minneapolis-St. Paul, Minnesota is sure to win you over with its friendly demeanor. There are great explorations throughout the region. Get your retail therapy along with thrill rides and amusements in the Mall of America. Professional sports fans will appreciate the venues and athleticism of the Twins, Vikings and Timberwolves. See some exhibits at the Como Park Zoo and Conservatory and the Minneapolis Sculpture Garden. From giraffes to a large spoon with cherry on top, you will be intrigued.
Stunning beauty awaits you at Minnehaha Park with its waterfalls, live music events and natural beauty. With several lakes at your disposal, you can swim, fish, play hockey and boat. Stay active at the many parks where you can bike, hike and play. The Twin Cities is an excellent backdrop for a new home!
Industries in the Minneapolis & St. Paul Area
The Twin Cities has a strong economy boosted by several industries. Find excellent career paths in healthcare, technology, mining, manufacturing and more. Some of the strong major employers in this area include UnitedHealth Group, 3M, the Mayo Clinic, U.S. Bancorp and Target. This vibrant economy and strong housing market combine for success for potential homebuyers.
School Districts in the Minneapolis & St. Paul Area
Education is paramount and the excellent schools in this area will serve your family well. Rich, safe learning environments, dedicated educators and high standards will have your children reaching their full potential. Some of the excellent districts serving the Twin Cities include Minneapolis School District, Hiawatha Academies, and Metro School Charter School District. Rest easy knowing your family will be able to transition to excellent schools with a new home purchase in this region of the state.
Minneapolis & St. Paul is fast growing in all directions. Choose from more urban options in both Minneapolis and St. Paul or find your perfect suburb surrounding either city. With so many inviting new home communities, you are sure to find the perfect fit for a short commute, rich amenities and excellent schools. New homebuilders are creating homes for families in any stage of life. Innovative floor plans boast beautiful exteriors including Craftsman and farmhouse. From small cottage homes to larger homes on sprawling lots to lower maintenance townhomes there is a home that fits your lifestyle. Find plenty of room to relax and entertain in an open-concept home with the latest in finishes, features and technologies. Chef-inspired kitchens, flex spaces, spa-like master suites and outdoor living spaces are some of the beautiful reasons to purchase a new home in the Twin Cities area.
Market Overview: New Construction Homes in Minneapolis & St. Paul, MN
Here is a quick overview of new housing developments in the Minneapolis & St. Paul area and the new construction market for new build homes in Minneapolis & St. Paul:
| Market Name | Minneapolis & St. Paul |
| State Name | Minnesota |
| Subdivisions | 468 |
| Homes Under Construction | 492 |
| Quick Move-in Homes | 680 |
| Floor Plans | 5,174 |
| Starting Price | $40,890 |
| Average Price | $503,812 |
| Price Per SqFt | $230 |
| New Home Builders | 76 |
| Leading Builders | - Lennar
- M/I Homes
- Pulte Homes
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