Luxury homes in the Minneapolis Real Estate Market are unique compared to markets in New York or LA. A luxury home in LA might be well into the millions while the same home in the Twin Cities Area may start at $500,000. The most noteable luxury homes in the Minneapolis Real Estate Market tend to to be those in Lake Minnetonka and the Minneapolis Lakes Area. There are also luxury homes in several suburbs. In this post we’re going to look at where buyers are purchasing luxury homes in the Twin Cities Metro Area.
For the chart below we’re using the Seven County Area of the Twin Cities, which includes Anoka, Hennepin, Ramsey, Washington, Scott, Carver and Dakota Counties.
*Date is between Jan 2011 and Dec 2011. Sold Price is 500000+ County is one of ‘ANOK – Anoka’, ‘CARV – Carver’, ‘DAKO – Dakota’, ‘HENN – Hennepin’, ‘RAMS – Ramsey’, ‘SCOT – Scott’, ‘WASH – Washington’ All information contained herein is deemed reliable but not guaranteed and for the exclusive use of authorized MLS subscribers; Copyright (c) 2011 Regional Multiple Listing Service of Minnesota, Inc. All Rights Reserved.
As you can see the Lake Minnetonka Area leads the pack with 283 sales so far this year with homes at and above $500, 000, followed by Minneapolis with 207 sales and Edina, Plymouth and Eden Prairie with more than 100 sales.
In the chart below are Luxury Homes Sales from November 20th – 30th.
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