2023 has proven to be another exciting year in real estate. The need to invest in quality properties is an urgent mission as the economy changes.
Whether it is for protecting your assets, and making smart long term financial choices, or securing income and strong yields in tangible assets as technology and monetary policy alters our financial universe, success is all about selecting the right properties.
As we all know, when it comes to real estate, this is all about location, location, location.
So, let’s take a quick glance at the top six communities to purchase homes in MN for this year, and next…
1. Wayzata
Wayzata, MN is one of the best small cities you can hope to buy property in.
Where is it?
Just 16 miles west of Minneapolis, on the shore of Lake Minnetonka.
What’s the vibe?
Small town character, with magnificent waterfront estates. Home to high income earners. A must visit for anyone coming into the area.
What can you buy?
Older 1 bedroom homes can sell for less than $200k, Ranging up to over $16M for waterfront estates and second homes.
What’s so great about it?
Quality of life and strong income generation, with median home listing prices up 47% from last year, and growing.
Over 100 miles of shoreline, with numerous bays, and water activities.
Where is it?
16 miles southwest of Minneapolis.
What’s the vibe?
It’s all about that summer lake life living. Pull your boat up to your favorite restaurant or bar for a cocktail and eats. Rinse and repeat.
What can you buy?
Pick up a brand new modern home with around 5,000 square feet, and 5 bedrooms, for just under $3M.
What’s so great about it?
If you love the water, or are looking for luxury income properties, this is for you.
3. Edina
Edina is a sophisticated suburban neighborhood, with golf and parks.
Where is it?
A first ring suburb, just outside of Minneapolis.
What’s the vibe?
Edina is an affluent suburb, with a vibrant dining and shopping atmosphere.
What can you buy?
Check out incredibly spacious, new construction estate homes from $3M to $5M
What’s so great about it?
Great quality and social life, close to the city.
4. Orono
A wealthy enclave close to the twin cities.
Where is it?
Just south of Medina, on Crystal Bay.
What’s the vibe?
A highly affluent neighborhood with large yards.
What can you buy?
Diverse architectural choices offer spacious homes and lot sizes, with more traditionally designed homes. Great options from $1.5M to over $10M.
What’s so great about it?
Attractive price per square foot, in a prestigious neighborhood, with values increasing almost 18% per year.
5. Medina
A rural MN community with more affordable homes for sale.
Where is it?
Just north of Orono.
What’s the vibe?
Rural, country feel, for those that enjoy peace and tranquility.
What can you buy?
Vacant lots for building your own home from $95k, mid range options around $400k, and new modern farmhouses around $2M.
What’s so great about it?
Privacy and tranquility, while still being within reach of the city.
6. Chaska
An affordable community with lots to love.
Where is it?
Nestled on the bend of the river, southwest of Minneapolis.
What’s the vibe?
A garden community, with golf, and a historic downtown.
What can you buy?
Smaller existing midwest style homes from around $200k, to more spacious newer homes with lake views for around $2M.
What’s so great about it?
One of the most affordable housing communities in this region of MN.
