Although the Spring 2020 Parade of Homes was cut short due to the COVID-19 pandemic; the Fall Parade of Homes is back. This years Parade runs from Sept. 12th to Oct. 4th with doors open on Thurs. to Sundays from 12 noon to 6PM. A total of 385 new homes are showcased this year and…read more
There may be snow on the ground; but its time to think spring as the annual Parade of Homes (“POH”) kicks off this Sat. March 2nd. The POH runs from March 2nd to March 31st while homes are available for showings between 12 noon and 6PM. There are 472 showcased homes this year and guidebooks…read more
A newly released report by the Housing Affordability Institute stresses what I’ve been researching for year; Twin Cities new construction costs are higher than many other metropolitan areas across the country. Yes we live in a cold climate that requires increased costs for energy efficiencies; but the underlying factor is it cost more to build…read more
Over 400 new construction homes are features in this Fall’s Parade of Homes. This year’s tour runs from September 8 – 30. The tour is open Thursdays through Sundays from 12 to 6 p.m. A free, comprehensive guidebook including maps, photos and illustrations of the featured homes, is available at area Holiday Stationstores. For…read more
It may still feel like winter; however spring is around the corner as the Parade of Homes is here! This year there are nearly 500 new homes to tour + a number of remodeled homes. The spring parade runs Feb. 24th to March 25th from noon to 6PM on Thurs. to Sunday. Guide books are…read more
There is no question the home supply inventory is low across the Twin Cities, regardless of price point. As of July 2017 the inventory of homes for sale in the Metro Area was only a 2.4 month supply – equilibrium is about 5 to 6 months. Not surprisingly, the supply of homes is lowest for…read more
This past June new building permits posted the highest monthly totals in a decade in the Twin Cities. Compared to last year at this time, new home permits are up over 60% in one year! New construction volume has been dominated by new luxury apartment construction since the Great Recession; so it is good news…read more
The Mullins Group is often asked, “why is new construction so expensive” compared to other Metro Areas? There isn’t one reason; but a multitude of reasons why housing is so pricey in the Metro Area. A few of the reasons include: land costs, Met Council MUSA line, over-the-top building code changes, impact fees from local…read more
The Twin Cities real estate market has witnessed a fundamental shift over the past few years from a buyers to sellers market. Inventory (i.e. the supply of homes) continues to remain very low which has resulted in price appreciation and few days on market. In 2016 the median days on market was only 33 days,…read more
Ten years after the peak of the real estate boom last decade, home prices in the Twin Cities have peaked exactly 10 years later. 2006 was generally the peak year in the real estate boom for most Twin Cities communities and the overall median sales price for 2006 was around $232,000. This past month the…read more
