Prices Drop In Loring Park But Up In Lake Nokomis

Condo prices in Loring Park are down about 8% over the last 12 months, but home prices are up 14% in Lake Nokomis area.  We are seeing a record high amount of inventory in Loring Park, North Loop and Downtown West.  But we are seeing a steady decline of inventory in Nokomis and that is pushing up prices to all-time highs.  Watch downtown inventory levels this winter to see if they increase even more.  Typically, we see a decrease in new listings in the winter months, but we could see increases with more people looking to move out of downtown Minneapolis.