H OUSING N EWS R EPORT
April 2016
Plymouth, Maple Grove and Woodbury are very popular areas where buyers want to live.” McAlpin said houses located in first-tier suburbs were mostly built during the postwar boom of the 1940s and ’50s. The Chain of Lakes district — which covers five city lakes threaded by more than 13 miles of pedestrian paths — is popular area with first-tier suburban buyers. Minneapolis is a largely white-collar town, where jobs are plentiful because it is home to some of the nation’s biggest corporations, including 19 Fortune 500 companies like Best Buy, 3M, Target, Hormel Foods, UnitedHealth Group and General Mills, which was acquired by its rival Pillsbury in 1988. The region also has the one of lowest unemployment rates in the nation. The Minneapolis-St. Paul metro Low Unemployment Rate
had a 3.9 percent unemployment rate, the second best among large metro areas in February, according to the Bureau of Labor Statistics.
North Loop Surges
Nowhere is the strength of the Twin Cities economy more apparent than the North Loop of Minneapolis, the neighborhood west of downtown Minneapolis and near the Warehouse District between Target Field and the Mississippi River that is becoming the city’s epicenter of art and commerce. Nestled along the Mississippi River within walking distance from the Warehouse District, the neighborhood was once home to bustling red- bricked warehouses, factories, railroad yards and mills. During the 1960s and ’70s, the area fell dormant. But North Loop is getting a second wind now as artists are moving into its abandoned Continued Next Page
Bruce McAlpin Broker Edina Realty Monticello, Minnesota “ I’m very optimistic about our market. It’s pretty solid. Our only issue is lack of inventory. Our first-tier suburbs are extremely hot. ”
Minneapolis, Minnesota
WHAT: 4-bedroom home HOW MUCH: $500,000
WHAT: 4-bedroom home HOW MUCH: $449,990
WHAT: 4-bedroom home HOW MUCH: $289,500
Attractive walkout rambler is filled with features you’ll love: the gourmet kitchen with large center island, spacious living room with gas fireplace, formal and family dining, and main floor master suite. Granite countertops, hardwood floors and tiled baths. Agent: Bruce McAlpin, Edina Realty, (612) 669-6324, http://www. edinarealty.com/the-mcalpin-team.
Fantastic 4BR/4BA home features a welcoming front porch, large kitchen with snack bar and pantry, open living area with gas fireplace in LL family room. Main floor master bedroom with private bath and large walk-in closet. Agent: Bruce McAlpin, Edina Realty, (612) 669-6324, http://www. edinarealty.com/the-mcalpin-team.
Beautiful walkout rambler overlooking the Mississippi River. Open floor plan features kitchen with center island, granite counters, MF master with private balcony, 4-season porch, lower level family room with gas fireplace, spa room and more. Agent: Bruce McAlpin, Edina Realty, (612) 669-6324, http://www.edinarealty.com/the-mcalpin- team.
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