The median sales price for a home in the City of Minneapolis is $218,500, which is an increase of 20 percent over this time last year. Since “median” indicates that roughly half of the homes were priced less than this figure and half were priced higher, it only stands to reason that there are many affordable homes in the city.
Two of Minneapolis’ most affordable communities are Camden and Near North – with lots to like about both.
If you had bought a house in Camden last year, you’d be sitting pretty right now as prices have increased more than 35 percent. Sellers were more apt to accept lower price offers as well, receiving only 90 percent of their original list price. This year, that statistic has increased to nearly 95 percent.
This in no way means you can’t find a good deal in Minneapolis’ Camden neighborhood. Right now the median sales price is $119,000, ideal for homebuyers on a budget.
Camden is a community of 31,250 residents spread throughout seven neighborhoods. To locate it on a map, look in the northwest corner of the city, between 53rd and Lowry Avenues and the river and Xerxes Avenue North.
Currently, there are 86 homes listed for sale in Camden, the least expensive of which has 1,537 square feet of living space with 3 bedrooms and 2 bathrooms. It’s located in the Cleveland neighborhood and is listed at $119,000.
The most expensive home in the community is also located in Camden’s Cleveland neighborhood and is priced at $162,900. It features 3 bedrooms and 2 bathrooms in 1,516 square feet of living space.
Although the median list price of a home in Minneapolis’ Near North community has increased more than 50 percent over the past year, it is still quite affordable at $123,750. It is obviously no secret either, as homes are being snatched up much quicker than they were last year and the inventory of available homes has shrunk somewhat.
Does that mean you’ll have trouble finding a home in this community of 31,223 residents? Nope – not at all. There are currently 30 homes for sale in Near North, the least expensive of which is a circa 1900 charmer with 2 bedrooms, 2 bathrooms and 1,061 square feet of living space. Located in Near North’s Harrison neighborhood, it’s being offered at $124,900.
At the top of the Near North real estate market you’ll find a 3 bedroom, 3 bathroom home with 1,636 square feet of living space, listed at $173,000. This home is located in the Hawthorne neighborhood.
You'll find the Near North community, and all of its six neighborhoods, just south of Camden.
Image courtesy Camden Business Association