January 2017

Although construction for The Legacy Lofts in Minneapolis hasn’t even started, units have now officially hit the MLS and are actively selling. Being developed by Shamrock Development, the Legacy Lofts project was initially proposed all the way back in February of last year and will eventually become the company’s 10th condo development in Downtown Minneapolis alone. 

Located at 1240 2nd Street South, the fabulous new Legacy Lofts development sits prominently in Minneapolis’ Mill District, just a short walk away from the newly built U.S. Bank Stadium. When finished, Legacy Lofts will stand 14 stories high and include 374 loft-style condos for sale, as well as space for 700 underground parking stalls. Currently, only a surface parking lot and the vacant

There’s always a lot to think about when looking for a new place to live, but when it comes to buying a condo in Minneapolis, additional factors may come into play that aren’t necessarily associated with buying a detached single-family home. 

Historically, the condo market has been much more unpredictable than the market for a traditional single-family home, which is precisely why you need consider these important elements when conducting a search: 

• What are the reserves of a building or complex? 

The last thing you want as a new condo owner is to face big special assessments. If the building needs a new roof or major updates to satisfy new codes and there’s no money available for these fixes, it’s on the owners to pay for whatever

Despite new construction reaching its highest level since 2002, tightened inventory around the country is one of the biggest concerns facing the housing industry in 2017. From December of 2015 to December of 2016 there was about a 6.3% decline is active home listings on the market nationwide, which played a major role in the overall median sales price increasing to $232,200 at the end of last year. 

But even with mortgage rates jumping to over 4%, buying a home is still relatively affordable compared to years past. Additionally, despite inventory being low in just about every market, including around the Twin Cities, there are still plenty of great options listed for around $200,000. 

Featured below are active Minneapolis homes for sale between