The Source For Minneapolis Commercial Real Estate
Here are the numbers for condos and lofts that went pending in Minneapolis this past week:
Takeaways
The lower segment of the market is definitely moving it, meaning what’s going to happen when no more tax credit?
Here are the numbers for pending condos in Minneapolis from October 12th:
The week was better than most as far as pending sales, still the lower end that is moving.
I missed the one two weeks prior for reasons I have no idea and this past week with flu-like setback but nonetheless here is a little mini market report of condos in Minneapolis that went pending:
Takeaways
Remember that these are pending sales, not closed sales. Information was used from the MLS.
Case-Shiller released the latest report regarding home prices and they showed a year over year increase of 1.6% in July. If you haven’t seen the story, check it out here.
Remember it’s important not to forget that this home price index lags 2 months behind.
Here is a breakdown of the Minneapolis condos that went pending during the last week:
Takeaways
Remember that numbers are pending, so they haven’t closed yet and stats were pulled from the MLS.
Here is a little mini-market report about the condos that went pending in Minneapolis this past week:
Looks like Phoenix On The River was the winner this past week, placing three condos on the pending sales side. Also important to note that numbers were a little higher than last week only because a few luxury penthouse condos sold for over $1 million.
Remember that these stats are pending sales (from the NorthstarMLS), the final prices will not be known until the property closes
Here are the condos that went pending for the past week in Minneapolis:
No condo unit had multiple sales, a few short sales and bank owned properties. Sales were scattered throughout Minneapolis.
Everyone is always interested in the most expensive homes that are for sale around the Twin Cities metro area, but what about condos. Here are the 10 priciest condos currently on the market.
1.) The Unit 222 2nd Street SE #1701
The Price $3,990,000
The Details Two level home with 655 square foot private outdoor living space located in Phoenix on the River with skyline views of Downtown Minneapolis, Stone Arch Bridge and more.
Listing with Edina Realty
2.) The Unit 301 Kenwood Parkway #701
The Price $3,295,000
The DetailsDesigned by James Dayton and built by renowned Minneapolis custom builder Streeter & Associates. 3 bed 4 bath with private elevator and breathtaking views of downtown.
Listing with Remax Results
3.) The Unit 100 3rd Avenue S #3802
The Price $2,895,000
The Details 38th floor penthouse in The Carlye with river and downtown facing views. 2 bed 3 bath with all the upgrades, appliances and electronics controlled by remote & touch screen.
Listing with Coldwell Banker Burnet
4.) The Unit 301 Kenwood Parkway #501
The Price $2,700,000
The Details The prestigious urban style condos located in the Lowry Hill and Kenwood neighborhoods. 3 bed 3 bath 3 car garage with over 4300 finished square feet of living area. Downtown views
Listing with Coldwell Banker Burnet
5.) The Unit 700 2nd Street S #80
The Price $2,495,000
The Details Premium downtown location within the Washburn Lofts, custom features such as electronic shades, retractable glass panel wall and more
Listing with Coldwell Banker Burnet
6.) The Unit 1805 W Lake Street #601
The Price $2,490,000
The Details Prime location in Uptown with The Edgewater Condos design/build by Altus and Streeter. Walls of glass, 2 balconies, private roof deck. The best finishes for this penthouse
Listing with Coldwell Banker Burnet
7.)The Unit 222 2nd Street SE #1501
The Price $2,375,000
The Details 15th floor penthouse located in Phoenix On The River that is ready for occupancy. 3 bed 4 bath luxury loft with over 3400 finished square feet. Private elevator, 3 balconies, panoramic views of the city
Listing with The Realty House
8.) The Unit 222 2nd Street SE #1404
The Price $2,099,990
The Details Another penthouse in Phoenix on the River with private guest suite and elevator, along with outdoor living space. 3 bed 4 bath with over 3,400 finished square feet
Listing with Edina Realty
9.) The Unit 750 2nd Street S #704
The Price $1,650,000
The Details Humboldt Loft located next to the Guthire Theater in the Mill District. 12 foot ceilings, floor to ceiling windows, concrete floors, 2 bed 2 bath with over 2700 finished square feet.
Listing with Coldwell Banker Burnet
10.) The Unit 1805 W Lake Street #301
The Price $1,499,000
The Details Another Edgewater condo build-out by Streeter & Associates in Uptown/Lakes Area. 2 bed 2 bath over 2100 finished square feet.
Listing with Edina Realty
Overall there are over 32 luxury condos in Minneapolis that are listed over $1 million. Phoenix on the River takes the top spot placing 3 units within the top ten.
I’ve started embedding documents awhile back over at Twin Cities Real Estate, so I thought I might as well do it over here as well.
This is the market report for August and the reports are put together by the Minneapolis Association of Realtors with data used from NorthstarMLS/RMLS.
Nice to see inventory being down in most areas, the only two areas it increased was Northeast and Southwest.
Here is the Minneapolis Condo Report for July 2009.
The Minneapolis condo market report consists of data coming from the Regional Multiple Listing Service.
Condos for Sale in Minneapolis
Active Listings: 834 condos New Listings: 140 condos Sold Listings: 100 sales Average Sale Price: $198,203
Highest and Lowest Condo Sold
The highest condo sold was a shell unit that sold at $1,050,000 and didn’t include any finishes in Phoenix on the River The lowest condo sold for $15,750
Days on the market for Minneapolis Condos
Average Days on Market: 75 days (for condos that sold in August)
Since this is the first month I am really starting to track numbers, they may not be a true picture of the current market… but pretty close 
Maybe, just maybe once this get’s going I just might throw in some graphs.
