Just a quick "flash in the pan" for everyone interested in local real estate values. We always here about the wholesale decline of home values, when in fact that's simply not the case. In reality Buyers are able to be far more discriminating and while that leads to declining vales in some areas, other areas are in fact rising. 
Average stats in no way reflect the actual value of your home. To find out the value of your home, contact me for a free Market Analysis based on comparable sales in your price range, neighborhood, and property type.
Minneapolis, MN Neighborhood Average Sale Prices
*** These statistics should NOT be used as a basis for valuation of specific properties. Value estimates need to be based on data specific to the property type and recent sales of similar properties. For a free market analysis on your home, please feel free to contact me at the number above.
|
2006 |
2007 |
Percent Change |
|
| Camden |
$161,352 |
$131,290 |
- 18.6% |
| Downtown |
$310,891 |
$323,644 |
+ 4.1% |
| Longfellow |
$220,072 |
$222,404 |
+ 1.1% |
| Nokomis |
$239,843 |
$235,852 |
- 1.7% |
| North |
$152,372 |
$101,864 |
- 33.1% |
| Northeast |
$214,645 |
$198,184 |
- 7.7% |
| Phillips |
$208,259 |
$166,916 |
- 19.9% |
| Powderhorn |
$182,561 |
$169,911 |
- 6.9% |
| Southwest |
$351,385 |
$370,175 |
+ 5.3% |
| University |
$259,903 |
$263,083 |
+ 1.2% |
| Uptown |
$401,119 |
$387,612 |
- 3.4% |
| Edina | $504,582 | $495,121 | -1.9% |
| Richfield | $223,362 | $216,297 | -3.2% |
| St. Louis Park | $253,196 | $254,309 | + 0.4% |
| East Bloomington | $233,641 | $215,543 | -7.7% |
| West Bloomington | $272,799 | $271,751 | - 0.4% |
| Eden Prairie | $365,209 | $409,579 | + 12.1 |
Data courtesy of MAAR collected from the RMLS database.
It's been a wild ride as of late, as home values rise in some areas and fall in many more, short sales and foreclosure complicate deals, financing challenges are everywhere and everyone is taking a careful look at their pocket book as the general economic news sours. But what's it all mean for YOU? Well, if you are a Tyrol Hills homeowner you are in luck!
Tyrol has always been in demand and today is no different. Tyrol averages about 2.54 sales per month, with 18 single family homes on the market; there are just 7 homes for each buyer in Tyrol. By comparison the Twin Cities Metro Area there are 8.7 homes per buyer. Having fewer homes for buyers to choose from (lower supply) improves conditions for sellers, and makes for a stronger market.
Tyrol home sellers aren't all in the sale boat. Home values in Tyrol Hills range from around $200,000 to well over $1 million. Sales volume is highest in the lowest price ranges, as buyers looking for "opportunities" flock to this area, looking for re-hab, tear down properties. At the higher price points, the Tyrol market is still better than average, but it is slow. There were 4 homes over $1 million in the past two years, and there are 3 currently for sale. In the $500,000-800,000 range there have been 24 sales, while there are 6 on the market. In the hottest price range from $200,000-$400,000 there were 16 sales and 4 are available.
Tyrol remains strong, but as in any area, selling a home today is all about competition. Knowing the other homes, inside and out, that are available, and those that have sold define the market. As long as there are more homes available than there are buyers, those that sell are those that offer the most value.
For more information, or if you have questions about buying or selling in today's market, feel free to contact us anytime.
Ben Kolkman - (952) 230-3157
AQUA TERRA PARTNERS
SKY Sotheby's International Real Estate
Though it's located a mere ten minutes west of downtown Minneapolis, the prestigious neighborhood of Tyrol Hills looks like it could have been carved out from the alpine Austro-Italian region from which it gets its name. Hills, winding streets, wide lawns, ponds and old-growth trees characterize this Golden Valley community, as do turn-of-the-century homes and established family homes built during the post-WW II boom years.
Tyrol Hills is situated west of Theodore Wirth Parkway and France Avenue, east of Highway 100, north of St Louis Park, and south of Highway 55. Interstate 394 runs through the community, dividing it into North and South Tyrol Hills. Lots here range from a quarter to half an acre in size, and home prices start at around $350,000 and go all the way up to more than $1.5 Million.
Numerous parks and pockets of green are scattered throughout the community, including the 9-acre North Tyrol Park, the 6-acre Natchez Park and the 2.9-acre South Tyrol Park. Then there's Tyrol Hills' next-door neighbor, Theodore Wirth Park, which sprawls over 759 acres. Within the park are two golf courses, Wirth Lake, Birch Pond, Bassett's Creek, the Eloise Butler Wildflower Garden and Bird Sanctuary, JD Rivers' Children's Garden, and the Quaking Bog. The park provides opportunities for year-round fun, from swimming, picnicking and off-road biking to cross-country skiing and sledding in the winter.
Tyrol Hills is also known for its high-performing public and private schools. Public schools here, administered by the Hopkins Schools District (District 270), are Meadowbrook Elementary, North Junior High and Hopkins Senior High. The last was included in Newsweek's 2007 list of the top high schools in the country. Among the notable private schools in the area are Benilde-St. Margaret's High School and Breck School.
Tyrol Hills' proactive neighborhood associations, such as the South Tyrol Hills Neighborhood Association, further enhance the quality of life in the community. The excellent municipal services provided by the City of Golden Valley are also a key reason behind the wide-ranging appeal of real estate in this community.
The Remodeled Home Tour is a charity event designed to showcase building & remodeling trends in historic urban neighborhoods of South and Southwest Minneapolis.
So far this years tour has homes from some of the areas top firms such as Vujovich, Castle Building and Remodeling, Otogawa Anschel, White Crane, CASE, and more.
This years benificiary is Rebuilding Together Twin Cities. An affiliate of the national Rebuilding Together organization, Rebuilding Together Twin Cities has been preserving and revitalizing homes and communities since 1997.
In the Twin Cities alone they have renovated 113 homes, serving 67 elderly persons, 58 persons with disabilities and 50 families with a total of 131 children. Their programs provide opportunities for community involvement and support for an average of 400 volunteers annually.
The tour is designed to showcase high quality remodeled homes throughout South and Southwest Minneapolis. The contractors who worked on these homes are able to promote their businesses and meet with tour guests. The most appropriate homes are:
WAYZATA, Minn. - June 18, 2008 - Effective Monday, June 23, SKY Sotheby's International Realty will move into the company's new office, at 130 Lake Street West, to better accommodate and serve its customers and agents.
Following a 10-month search for a location, the firm selected the downtown Wayzata workplace near Lake Minnetonka, a more fitting office space for their client base and sales associates. The firm's Minnesota headquarters will remain at 4388 France Avenue South in Edna.
"Convenience for our clients and agents was an important factor in our decision, but it was also essential to select space that appropriately reflects our success," said Jacob Smith, Sales Manager, SKY Sotheby's International Realty. "The new space accomplishes all of these factors."
Since SKY Sotheby's International Realty's 2006 entrance into the Minnesota market, the company has been committed to bringing the Minneapolis/St. Paul area unprecedented platinum-level service, marketing expertise and individual attention.
"We remain committed to our objectives and plan to grow our agent base, who will be strategically located throughout the Twin Cities and northern Wisconsin, to a total of 300, delivering sales in excess of $2 billion annually," said Chad Roffers, President of SKY Sotheby's International Realty. "We followed a comparable growth strategy in our Florida operation and the market dynamics in the Twin Cities present a similar opportunity."
Currently, SKY Sotheby's International Realty has 25 top-tier sales associates with extensive experience in the Minnesota market and is actively adding high-quality team members. With availability for 10 additional agents in the third quarter of 2008, SKY Sotheby's International Realty welcomes those agents who embrace the company's competitive difference. The company's full-time agents focus intently on their customers and are committed to handling every transaction as if it were their own.
About SKY Sotheby's International Realty
As Minnesota's leading luxury real estate brokerage and exclusive Sotheby's affiliate, SKY Sotheby's International Realty represents the area's most distinctive properties and people. Combining the impeccable customer service of a boutique firm with the global resources and 260-year-old reputation of the Sotheby's brand, the company offers a unique and highly personalized approach to the luxury real estate market. Since its formation in 2006, the employee-owned company has enjoyed unprecedented momentum and unusual success driven by a strong focus on the customer. Connecting qualified buyers and sellers from around the world, SKY Sotheby's International Realty has Florida offices in Sarasota, Lakewood Ranch, Longboat Key and Osprey, as well as Minnesota, and is part of the Sotheby's global network of 9,000 affiliates in more associates in more than 470 offices in the U.S. and 29 other countries and territories. Experience the SKY Sotheby's difference at www.skysothebysrealty.com.
About Sotheby's International Realty Affiliates, Inc.
Founded in 1976 to provide independent brokerages with a powerful marketing and referral program for luxury listings, the Sotheby's International Realty® network was designed to connect the finest independent real estate companies to the most prestigious clientele in the world. In February 2004, Cendant Corporation (NYSE: CD), the world's leading real estate brokerage franchisor, entered into a long-term strategic alliance with Sotheby's Holdings, Inc. (NYSE: BID; LSE: STBA). The agreement provided for the licensing of the Sotheby's International Realty® name and the development of a full franchise system by Sotheby's International Realty Affiliates, Inc., a Cendant subsidiary. The agreement also included the acquisition of the company-owned real estate brokerage offices by NRT Incorporated, a Cendant subsidiary that owns and operates those offices today as Sotheby's International Realty, Inc. Affiliations in the system are granted only to brokerages and individuals meeting strict qualifications. Sotheby's International Realty Affiliates, Inc. supports its affiliates with a host of operational, marketing, recruiting, educational and business development resources. Franchise affiliates also benefit from an association with the venerable, 260-year-old Sotheby's auction house. For more information, visit www.sothebysrealty.com.
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AQUATERRA Partners|Historic Urban & Rural Leagacy Properties. Marketing, Public Relations, Comunications & Branding for a more effective Real Estate Transaction
AQUATERRA Partners, a division of SKY Sotheby's International Realty, was formed to deliver unparalleled real estate services within three core areas; Historic Urban, Rural Leagacy, International Living.
This three-fold approach was developed around the passions of the AQUATERRA members; Todd Shipman, Jeanne Larson and Ben Kolkman.
"We are a marketing, advertising and communications firm. We apply our talents in world of Real Estate."
- Todd Shipman
~ Historic Urban Neighborhoods of Minneapolis & St. Paul
~ Rural Leagacy & Conservation Lands in North America
~ International Living Throughout the World
Historic Urban property in the Twin Cities of Minneapolis and St. Paul is the core of our business. Minneapolis and St. Paul are currently experienceing a rebirth of new houseing options within select areas of the urban core and specific suburban neigborhoods.
Fuled by the desier to live closer to the city, and strong real estate values these new houseing options include remodeled older homes and new construction (in-fill, and tear down), which often incorporate green building and living elements.
Rural Leagacy and Conservation properties include some of the most impressive and important pieces of real estate we have left. Our interest in repersent these properties is fuled by a deep desier to see their highest value appriciated. Whether corporate or private ownership, the need for stewardship, conservation and preservation is a fundamental concern, where we believe we can help to make a difference.
International living is a passion of our and many of our clients. With our experience of living abroad and developed worldwide network of real estate expertise, we act as a respected resource for those seeking or offering properties on a global scale.
Todd Shipman, Partner
Todd Shipman has been listing and selling real estate around the Twin Cities for more than nine years. Dedicated to education in real estate, he has earned the titles of Certified Residential Specialist® and Certified International Property Specialist®. Todd is a graduate of the REALTOR® Institute and has served as president for the Minneapolis Area Association of REALTORS®, the leading regional advocate and provider of information, research, and education on the real estate industry for brokers, real estate professionals, and the public.
A partner in the AquaTerra Real Estate Group, Todd provides a straightforward, honest, and insightful approach. Through his involvement in professional organizations Todd has the opportunity to network with the top real estate professionals locally, nationally and around the world, which helps him bring a fresh approach to every property he represents.
Jeanne Larson, Partner
Jeanne Larson is a native Minnesotan with international flair. With degrees from St. Olaf College, in Spanish and economics, and an M.B.A from Georgetown University Jeanne spent 15 years working abroad. Throughout her career Jeanne has lived in Spain, Mexico, France, Argentina and Costa Rica. She has native-like fluency in Spanish and also is fluent in French. Larson now resides in Center City on her family farm with her husband and two children.
Jeanne applies her unique experience as a partner in the AquaTerra Real Estate Group specializing in international properties. She is a member of the: Asociación Mexicana de Profesionales Inmobiliarios; Urban Land Institute; U.S. Green Building Council; and Sensible Land Use Coalition.
Ben Kolkman, Partner
Ben Kolkman has been in sales and marketing for 10 years, experience includes Real Estate, Information Technology, and Medical Devices. Representing Buyers and Sellers throughout the metro area, Ben's primary market is historic urban housing. He covers the Twin Cities Real Estate market in his blog, and is a regular contributor to other local real estate media outlets.
A partner in the AquaTerra Real Estate Group, Ben excels leads the team's internet marketing strategy. His passions include urban neighborhoods, historic restoration & green remodeling. Every fall Ben organizes the Remodeled Home Tour as a fundraising event for local housing and neighborhood groups.
Beth Biersdorf, Office Manager
Beth Biersdorf is known for her positive energy and dedication to her role as office manager for the company. Her background includes customer service and sales/training work with Rollerblade®. She also spent time in marketing at a local law firm. Biersdorf holds a bachelor of arts in theatre from the University of Minnesota.
Not only is Biersdorf motivated in the office, but she also participates in community activities outside of work. She is an avid runner and plays volleyball and softball around the metro area. Biersdorf also volunteers at her children's elementary school. She currently resides in South Minneapolis with her two children.
Mollie Windmiller, Marketing Director
Mollie Windmiller's strong passion for design shine through in her position as full-time marketing director. Windmiller grew up in Stillwater, Minnesota, before attending Macalester College in St. Paul, where she received her Bachelor of Arts in studio art, and minored in communications and media studies. She has worked in agencies around the Twin Cities and out West, and also started her own design business, dot 5 design.
Windmiller enjoys outdoor activities and practicing yoga. She also takes advantage of the bustling arts and music scene in the Twin Cities by frequently attending concerts and art events, and dining at many types of restaurants. She resides in the Kenwood neighborhood, near Lake of the Isles, in Minneapolis.
Naomi Johnson, Contracts Administrator
Naomi Johnson oversees the flow of information essential to the office operations. Her responsibilities include processing sales and listings contracts, sales reports, loading and updating information on numerous websites, and acting as liaison between agents, business affiliates and accounting. She believes in responding quickly to requests and consistently maintains a positive attitude in communicating with all parties.
Prior to joining the team, Naomi worked as an Administrative Assistant to several Real Estate Agents. Being in the real estate industry since 1990, she thoroughly understands the intricacies of the real estate process and is a valuabe asset to the AQUATERRA team.
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