Homes for Dale in Minneapolis
Table of Contents
- Minneapolis: A Short History
- What is the real estate market like in Minneapolis?
- Home prices and property types
- Where can I find luxury homes for sale in Minneapolis?
- Why invest in a luxury home in Minneapolis?
- What’s it like to live in Minneapolis?
- Explore your luxury real estate options in Minneapolis with Scott Haubrich today!
Luxury Homes for Sale in Minneapolis, MN
One half of Minnesota’s Twin Cities (the other half being the neighboring city of St. Paul) Minneapolis is considered as one of the best places to live in the Midwest.
The city is many people’s idea of the perfect community. Living here, you can expect a high quality of life where the vibrant urban lifestyle seamlessly blends with a distinctive historic charm and acres of green open spaces.
Ready to explore and see what this beautiful city has to offer? We lay down everything you need to know about living in Minneapolis.
Minneapolis: A Short History
Minneapolis has a long and storied past, making it one of the most interesting cities in the Midwest and the entire United States.
Before the coming of European settlers, the area that would become known as Minneapolis was home to Native Americans—specifically the Dakota Sioux and Ojibwe peoples—for over 12,000 years.
This changed in 1849 when settlers began occupying land on the western and eastern shores of the Mississippi River. By 1872, these two settlements would eventually be combined into the city of Minneapolis, with the name derived from the Sioux word “minne” which means “water,” and the Greek polis, which means “city.”
The city experienced early economic growth as a lumber and flour-milling center, thanks mainly to the nearby St. Anthony Falls which supplied the power needed by these industries, as well as the construction of a railroad that connected Minneapolis to Chicago and the rest of the Midwest.
Minneapolis also became a major player in the Civil Rights Movement and the American Indian Movements during the 1950s and 60s, with city mayor Hubert Humphry helping with the fight by filing numerous civil rights and anti-discriminatory policies.
Today, Minneapolis is a thriving city that serves as home to some 425,000 residents, making it the most populated city in the state and one of the bigger cities in the entire country. The city is also an economic powerhouse in the Midwest, hosting several important industries that provide abundant job opportunities to residents.
What is the real estate market like in Minneapolis?
With everything it has to offer, real estate in Minneapolis has always been in high demand. From 2000 to 2021, home values in the city have increased by 114.52% or an average of 3.34% a year.
In 2023, as most markets in the country started seeing a correction after an unprecedented surge during the pandemic, Minneapolis is one of the cities that have remained a seller's market. A one-year market forecast of 2.7% suggests a projected increase in home values over the next year, indicating even more growth and stability.
Home prices and property types
Homes in Minneapolis run the gamut from single-family properties to condos and townhomes. Prices and sizes range widely, providing numerous options for homebuyers of all budgets and preferences.
You'll find gorgeous luxury homes priced from just under $1 million to over $4 million, as well as more affordable properties with prices starting at around $150,000. Some of the most desirable properties are historic homes and estates built from the 1900s to the 1930s with gorgeous architecture in various styles, including cottage, Spanish Revival, and Tudor. Contemporary homes can also be found throughout the city.
The condos and townhomes in Minneapolis are no less desirable. Some luxury condos rival their single family home counterparts in terms of price and desirability. And it's easy to see why – you get your money's worth with their upscale finishes, expansive living areas, amazing views, and excellent community amenities that include swimming pools, clubhouses, concierge services, and more.
Where can I find luxury homes for sale in Minneapolis?
- Downtown West
Located in the heart of Minneapolis, Downtown West is home to some of the city's best nightlife and entertainment destinations, making it popular among urbanites and those who want to live close to where the action is. Given the limited land area in this neighborhood, most homes in Downtown West are condos and similar developments, the most upscale of which come with great amenities, such as outdoor community pools, entertainment areas with fire pits, and balconies with breathtaking views of the city.
Luxury condos in this part of Minneapolis typically range in price from $500,000 for one-bedroom-one bathroom units, $800,000 for two-bedroom units, and up to $6 million for plush three-bedroom penthouse units.
- East Isles
A vibrant historic urban neighborhood, East Isles is the perfect place for those who want both the best of the city and the peaceful escape of suburbia. Located on the east side of Lake of the Isles in the Minneapolis Chain of Lakes area, East Isles is famous for its gorgeous luxury homes, many of which sit on large lots and boast generously sized living areas. Luxury homes for sale in this Minneapolis neighborhood typically sell for anywhere between $1.5 million and as much as $3.9 million or more.
- Lowry Hill
Located west of downtown Minneapolis, Lowry Hill is best known for its proximity to the popular Chain of Lakes, which gives residents easy access to scenic walking trails and water sports while still being near the city center. Named after Thomas Lowry, one of the original developers and residents of the area, Lowry Hill’s housing stock consists mostly of Victorian-style residences, many of which were built before 1900. Luxury homes in this Minneapolis neighborhood fetch prices of anywhere between $1.3 million and $3.4 million, depending on their size and amenities.
Located in the Calhoun-Isles community, Kenwood is one of the most affluent neighborhoods in Minneapolis, much like the neighboring community of Lowry Hill. A highly sought-after neighborhood, Kenwood's most notable feature is its selection of historic mansions, many of which offer arresting views and easy access to the area's many lakes and other natural attractions.
Homes for sale in Kenwood are quite large and secluded, making them perfect for growing families as well as those who value their privacy. Planning on putting down roots in Kenwood? Home prices range from $1.5 million to $4.5 million or more.
Located in Southwest Minneapolis, Lynnhurst offers the best of city living while still allowing easy access to the region's abundant green spaces and the numerous recreational opportunities they offer. Lynnhurst also boasts a wide array of independent, unique businesses, including restaurants, coffee shops, and boutiques, all of which have helped cement its status as one of the best neighborhoods in Minneapolis. As of 2023, prospective homeowners can expect to pay approximately $975,000 for a standard 4-bed-4-bath home in the area, or around $1.7 million for a 5-bed-4-bath mansion.
- East Bde Maka Ska
Formerly known as East Calhoun, East Bde Maka Ska is a neighborhood located within Minneapolis' Calhoun-Isles community. East Bde Maka Ska is known for its environmental conservation programs and abundant opportunities for outdoor recreation. The community was renamed in 2021 in honor of the Dakota people who once lived in the area.
A small yet vibrant community, East Bde Maka Ska's housing stock consists mainly of homes from the early 1900s, most of which were built in the Colonial, Cape Cod, Victorian, and Craftsman styles. In recent years, condos have also popped up in the area, adding another viable option for those who wish to live in this wonderful neighborhood.
As of 2023, homes in East Bde Maka Ska have a median list price of around $600,000 although some of the more luxurious properties in the area can fetch as much as $2.2 million or more.
The quintessential Southwest Minneapolis neighborhood, Fulton is best known for its small-town feel and friendly atmosphere. The majority of Fulton's original housing stock can be traced back to the 1920s and 1930s, making the neighborhood extremely attractive to those who want homes with character and history. New developments are also becoming more rampant in the area, providing even more options to prospective buyers.
Homes for sale in Fulton have a median price of around $615,000, while more high-end properties can fetch prices of up to $1.3 million or higher.
Located within the larger Nokomis community near the southern edge of Minneapolis, Hale is bordered by several regional parks, appealing to those who love spending time in the great outdoors. Most homes in the area were built in the 1920s and 30s, giving the neighborhood a lovely, historic vibe. Homes in this Minneapolis neighborhood range in price from just a little under $600,000 to around $700,000.
Why invest in a luxury home in Minneapolis?
A luxury home in Minneapolis is a great investment. When you own one, you get a slew of advantages, including:
- Capital growth.
Luxury properties are among the safest investments one can make, mainly because their assured capital growth provides investors with financial stability even in uncertain economic scenarios. In addition, luxury homes are easier to sell than other types of investments, which means you can easily recoup your investment when it comes time to sell.
This is mostly tied with a home's value, which often runs in the millions, as well as its location, which tends to be in some of the most exclusive neighborhoods in the city.
- Great potential for a high return on investment.
In general, real estate properties have high ROI—especially luxury ones. Upscale homes tend to appreciate at a much faster—and higher—rate compared to their more modestly priced counterparts. Luxury properties can also be rented out in places like Minneapolis which has a shortage of housing stock, thereby ensuring a steady income stream for investors.
What’s it like to live in Minneapolis?
There are many words to describe what living in the City of Lakes is like—and “boring” is just not one of them. The city buzzes with energy with numerous things to see and do. Whether you feel like escaping to the tranquility of nature or look forward to immersing yourself in the city's culture, Minneapolis has something to suit your every mood.
As a resident in the city, you get to enjoy a highly regarded education system, beautiful homes, manageable cost of living, abundant employment opportunities, and world-class amenities.
- Getting around Minneapolis maintains an efficient network of transportation options, all of which help ensure that traveling to, from, and around the City of Lakes is a breeze. Chief among these is its efficient Metro Transit system, a well-maintained network of public buses, light rail, and commuter trains. Minneapolis is also incredibly bike- and pedestrian-friendly, with a total of 98 miles of bike lanes, 16 miles of on-street protected bikeways, and 101 miles of off-street bikeways and trails. The city also has a shared scooter program, which allows residents to rent and ride scooters throughout Minneapolis and St. Paul.
- Local dining destinations The restaurant scene in Minneapolis reflects the diversity of the city. From Somali cuisine to a fabulous take on fish and chips, restaurants in the City of Lakes offer a gastronomic adventure.
The top dining picks include:
- Martina, which offers Argentinian and Italian classics by Chef Danny del Prado
- Khåluna, which serves some of the best Southeast Asian fare this side of the Midwest
- Reverie Cafe + Bar, which boasts an extensive plant-based menu.
- Afro Deli, a fast casual dining restaurant that serves a fusion of African, Mediterranean, and American cuisines.
- World class shopping Minneapolis is home to Mall of America, the largest shopping mall in the United States and the seventh largest in the world. Mall of America houses more than 520 stores, 60 restaurants, and even an indoor amusement park and aquarium. Looking to shop local? You will love community-based shopping spots such as Minneapolis Farmers Market on Lyndale, Mill City Farmers Market, Kingfield Farmers Market, and the Fours Sisters Farmers Market, all of which offer the best locally sourced produce, home-cooked meals, and hand-crafted goods in the city.
- Attractions and entertainment Minneapolis is a city that's closely linked to art and great music, with the city counting musical greats such as Bob Dylan and Prince among its most iconic residents. Today, the city remains a bastion of the performing arts, hosting a number of fabulous musical venues that host some of the top acts in the country, including The Purple One in his homecomings. The most popular entertainment venues in the city include:
In addition, Minneapolis has no shortage of art-related events and festivals, making it easy for the city's residents and visitors to enjoy art all year long.
- Outdoor recreation
Compared to other similarly sized cities, Minneapolis has no shortage of green spaces and outdoor attractions, all of which offer near-limitless opportunities for outdoor recreation.
One park you should definitely visit is Theodore Wirth Regional Park, which, at 740 acres, is the largest park in the entire Minneapolis park system. Open all year long, Theodore Wirth Regional Park has miles upon miles of hiking and riding trails with varying levels of difficulty, ensuring a wonderful experience for beginners and veterans alike.
Another must-visit site in Minneapolis is Minnehaha Park, one of the oldest parks in the city. Named after the 53-foot-high Minnehaha Falls, the park has everything, including an open-air diner, a disc golf course, a dog park, wading ponds and pools, and a creek for kayaking, making it perfect for those who want to reconnect with nature while still having easy access to the comforts of the city.
Of course, no story about Minneapolis is complete without talking about its numerous lakes. Of these, the Chain of Lakes is undoubtedly the most popular, with each of the Chain's five lakes noted for their distinctive features and atmosphere. The lakes also offer different attractions such as live music, tranquil hiking trails, picnic spots, and adrenaline-pumping boat rides.
Explore your luxury real estate options in Minneapolis with Scott Haubrich today!
Explore gorgeous luxury homes for sale in Minneapolis with expert Realtor Scott Haubrich.
A full-service Realtor, Scott takes great pride in helping numerous buyers and sellers achieve their real estate goals and guiding them through the dynamic Minneapolis and St. Paul housing markets.
Scott and his team's services go beyond closing a sale – with their wide network that includes other real estate professionals and contractors, they can give you access to all the resources you will need to have a successful sale and a smooth transition to your new home in the metro.
Whether you're a first-time buyer or an experienced investor, trust that Scott Haubrich and his team will go above and beyond to provide you with a seamless and stress-free home buying experience every step of the way.