Minneapolis Townhouse Median Sale Prices Jump 14.3%

Minneapolis townhouse median sale prices increased 14.3% over the last 12 months.  During that same time period Minneapolis single family home median sale prices increased by 4.3%.  As you can see from the map below most of the sales are in the higher demand areas of Minneapolis.  We have seen similar double digit price increases in neighborhoods like Kenny, Calhoun Isles, Lowry Hill, etc.  So I think because most of the townhouses are in the higher demand areas of Minneapolis we are seeing those price increases at a higher rate compared to the Minneapolis market in general because more buyers are looking to be in those areas compared to the lower demand areas of Minneapolis.  With that said, I think there is more demand in general for new townhouses and condos in great neighborhoods because more buyers are looking for lower maintenance type situations where the association handles the repairs and upkeep of the exterior and common areas of the townhouse associations.