Accessibility Statement Skip Navigation
  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing
  • Login
  • GDPR
  • Create a Free Account
Return to PRWeb homepage
  • News
  • Resources
  • Contact
When typing in this field, a list of search results will appear and be automatically updated as you type.

Searching for your content...

No results found. Please change your search terms and try again.
  • News in Focus
      • Browse News Releases

      • All News Releases
      • Multimedia Gallery

      • All Multimedia
      • All Photos
      • All Videos
  • Business & Money
      • Auto & Transportation

      • Aerospace, Defense
      • Air Freight
      • Airlines & Aviation
      • Automotive
      • Maritime & Shipbuilding
      • Railroads and Intermodal Transportation
      • Supply Chain/Logistics
      • Transportation, Trucking & Railroad
      • Travel
      • Trucking and Road Transportation
      • View All Auto & Transportation

      • Business Technology

      • Blockchain
      • Broadcast Tech
      • Computer & Electronics
      • Computer Hardware
      • Computer Software
      • Data Analytics
      • Electronic Commerce
      • Electronic Components
      • Electronic Design Automation
      • Financial Technology
      • High Tech Security
      • Internet Technology
      • Nanotechnology
      • Networks
      • Peripherals
      • Semiconductors
      • View All Business Technology

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Financial Services & Investing

      • Accounting News & Issues
      • Acquisitions, Mergers and Takeovers
      • Banking & Financial Services
      • Bankruptcy
      • Bond & Stock Ratings
      • Conference Call Announcements
      • Contracts
      • Cryptocurrency
      • Dividends
      • Earnings
      • Earnings Forecasts & Projections
      • Financing Agreements
      • Insurance
      • Investments Opinions
      • Joint Ventures
      • Mutual Funds
      • Private Placement
      • Real Estate
      • Restructuring & Recapitalization
      • Sales Reports
      • Shareholder Activism
      • Shareholder Meetings
      • Stock Offering
      • Stock Split
      • Venture Capital
      • View All Financial Services & Investing

      • General Business

      • Awards
      • Commercial Real Estate
      • Corporate Expansion
      • Earnings
      • Environmental, Social and Governance (ESG)
      • Human Resource & Workforce Management
      • Licensing
      • New Products & Services
      • Obituaries
      • Outsourcing Businesses
      • Overseas Real Estate (non-US)
      • Personnel Announcements
      • Real Estate Transactions
      • Residential Real Estate
      • Small Business Services
      • Socially Responsible Investing
      • Surveys, Polls and Research
      • Trade Show News
      • View All General Business

  • Science & Tech
      • Consumer Technology

      • Artificial Intelligence
      • Blockchain
      • Cloud Computing/Internet of Things
      • Computer Electronics
      • Computer Hardware
      • Computer Software
      • Consumer Electronics
      • Cryptocurrency
      • Data Analytics
      • Electronic Commerce
      • Electronic Gaming
      • Financial Technology
      • Mobile Entertainment
      • Multimedia & Internet
      • Peripherals
      • Social Media
      • STEM (Science, Tech, Engineering, Math)
      • Supply Chain/Logistics
      • Wireless Communications
      • View All Consumer Technology

      • Energy & Natural Resources

      • Alternative Energies
      • Chemical
      • Electrical Utilities
      • Gas
      • General Manufacturing
      • Mining
      • Mining & Metals
      • Oil & Energy
      • Oil and Gas Discoveries
      • Utilities
      • Water Utilities
      • View All Energy & Natural Resources

      • Environ­ment

      • Conservation & Recycling
      • Environmental Issues
      • Environmental Policy
      • Environmental Products & Services
      • Green Technology
      • Natural Disasters
      • View All Environ­ment

      • Heavy Industry & Manufacturing

      • Aerospace & Defense
      • Agriculture
      • Chemical
      • Construction & Building
      • General Manufacturing
      • HVAC (Heating, Ventilation and Air-Conditioning)
      • Machinery
      • Machine Tools, Metalworking and Metallurgy
      • Mining
      • Mining & Metals
      • Paper, Forest Products & Containers
      • Precious Metals
      • Textiles
      • Tobacco
      • View All Heavy Industry & Manufacturing

      • Telecomm­unications

      • Carriers and Services
      • Mobile Entertainment
      • Networks
      • Peripherals
      • Telecommunications Equipment
      • Telecommunications Industry
      • VoIP (Voice over Internet Protocol)
      • Wireless Communications
      • View All Telecomm­unications

  • Lifestyle & Health
      • Consumer Products & Retail

      • Animals & Pets
      • Beers, Wines and Spirits
      • Beverages
      • Bridal Services
      • Cannabis
      • Cosmetics and Personal Care
      • Fashion
      • Food & Beverages
      • Furniture and Furnishings
      • Home Improvement
      • Household, Consumer & Cosmetics
      • Household Products
      • Jewelry
      • Non-Alcoholic Beverages
      • Office Products
      • Organic Food
      • Product Recalls
      • Restaurants
      • Retail
      • Supermarkets
      • Toys
      • View All Consumer Products & Retail

      • Entertain­ment & Media

      • Advertising
      • Art
      • Books
      • Entertainment
      • Film and Motion Picture
      • Magazines
      • Music
      • Publishing & Information Services
      • Radio & Podcast
      • Television
      • View All Entertain­ment & Media

      • Health

      • Biometrics
      • Biotechnology
      • Clinical Trials & Medical Discoveries
      • Dentistry
      • FDA Approval
      • Fitness/Wellness
      • Health Care & Hospitals
      • Health Insurance
      • Infection Control
      • International Medical Approval
      • Medical Equipment
      • Medical Pharmaceuticals
      • Mental Health
      • Pharmaceuticals
      • Supplementary Medicine
      • View All Health

      • Sports

      • General Sports
      • Outdoors, Camping & Hiking
      • Sporting Events
      • Sports Equipment & Accessories
      • View All Sports

      • Travel

      • Amusement Parks and Tourist Attractions
      • Gambling & Casinos
      • Hotels and Resorts
      • Leisure & Tourism
      • Outdoors, Camping & Hiking
      • Passenger Aviation
      • Travel Industry
      • View All Travel

  • Policy & Public Interest
      • Policy & Public Interest

      • Advocacy Group Opinion
      • Animal Welfare
      • Congressional & Presidential Campaigns
      • Corporate Social Responsibility
      • Domestic Policy
      • Economic News, Trends, Analysis
      • Education
      • Environmental
      • European Government
      • FDA Approval
      • Federal and State Legislation
      • Federal Executive Branch & Agency
      • Foreign Policy & International Affairs
      • Homeland Security
      • Labor & Union
      • Legal Issues
      • Natural Disasters
      • Not For Profit
      • Patent Law
      • Public Safety
      • Trade Policy
      • U.S. State Policy
      • View All Policy & Public Interest

  • People & Culture
      • People & Culture

      • Aboriginal, First Nations & Native American
      • African American
      • Asian American
      • Children
      • Diversity, Equity & Inclusion
      • Hispanic
      • Lesbian, Gay & Bisexual
      • Men's Interest
      • People with Disabilities
      • Religion
      • Senior Citizens
      • Veterans
      • Women
      • View All People & Culture

  • Hamburger menu
  • Cision PRWeb provides efficient communication tools to continuously engage with target audiences across multiple online channels
  • Create a Free Account
    • ALL CONTACT INFO
    • Contact Us


      11AM ET Sunday – 8PM ET Friday

  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • News in Focus
    • Browse All News
    • Multimedia Gallery
  • Business & Money
    • Auto & Transportation
    • Business Technology
    • Entertain­ment & Media
    • Financial Services & Investing
    • General Business
  • Science & Tech
    • Consumer Technology
    • Energy & Natural Resources
    • Environ­ment
    • Heavy Industry & Manufacturing
    • Telecomm­unications
  • Lifestyle & Health
    • Consumer Products & Retail
    • Entertain­ment & Media
    • Health
    • Sports
    • Travel
  • Policy & Public Interest
  • People & Culture
    • People & Culture
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR
  • Send a Release
  • Sign up
  • Log in
  • Resources
  • RSS
  • GDPR

Luxury homes in the Twin Cities Grab Top Quota of New Construction
  • USA - English


News provided by

Home Destination

Sep 22, 2014, 15:40 ET

Share this article

Share toX

Share this article

Share toX

New Construction in the Twin Cities
New Construction in the Twin Cities

Minneapolis, Twin Cities Minnesota (PRWEB) September 22, 2014 -- Luxury homes in the Twin Cities grab top quota of new construction activity, according to Northstar MLS's new Infographics feature. New construction is booming in the Twin Cities luxury homes sector.

Prospective home buyers gain added benefits from new housing data insights that offer guidance when deciding whether it is better to purchase a newly constructed home or a previously owned Twin Cities home. ~ Home Destination

Post this

"Residential real estate market conditions have remained inviting to new residents, while the demand for new construction of luxury homes in the Twin Cities seems to draw the highest level of construction activity," says Jenna Thuening, owner of Home Destination. "Premier Minneapolis and St. Paul residential building contractors shape the landscape of Minneapolis real estate by anticipating and responding to costs of new construction and market demand."

Home builders across the Twin Cities reeled a bit from the sharp downward turn in the number of permits pulled. According to batconline.com, the following residential communities in the metro lead others in the number of new permits pulled. Coming inn first Minneapolis had 83 units, Maple Grove 2nd with 40 units, Blaine 3rd with 32 units, Woodbury's 26 units ranked 4th, with Lakeville coming in 5th with 21 units.

New construction of luxury homes of distinction, both traditional and contemporary are taking a commanding share of home builder activity in the Twin Cities. "The increased demand for new homes has been facilitated by continued strength in the local resale market,” stated Chris Huecksteadt, Regional Director of Metrostudy’s Minneapolis/St. Paul region.

In August, 2013 the Median Sales Price of newly construction home by construction type was as follows:

• New Home Construction – 329,900
• Previously Owned Homes – 179,900
• All Construction Types – 185,525

In August, 2014 the Median Sales Price of newly construction home by construction type was as follows:

• New Home Construction – 363,705
• Previously Owned Homes – 94,900
• All Construction Types – 201,800

The median price of newly constructed homes flexed across various price ranges. They climbed significantly in the luxury home bracket, as demand for higher priced homes takes the lead in new construction activity. According to live data available from Northstar MLS:

  • Homes in $128,999 or less fell from 114,900 in June to 113,877 in August.
  • Homes in the range of $129,000 to $188,999 was 167,900 in July to $169,900 in August.
  • Homes in the range of $289,00 or more was 235,200 in July to $235,000 in August.
  • Homes in the range of 433,500 or more in July climbed to $433,606 in August

The U.S. Census Bureau released current numbers for new home starts, including all housing types, during August plunged 14.4 percent from July. A lack of many new apartment homes and other kinds of multifamily housing being built were indicated as cause for the decline. The Builders Association of the Twin Cities (BATC) Keystone Report is compiled on local housing data, while the Bureau's is not. BATC revealed at the end of August that construction activity in the Twin Cities mirrored a similar drop in annual and month-to-month permit activity. Its tapering off was attributed to fewer permits drawn to construct new apartment dwellings, which accounted for 26 percent of all new units versus a 50 percent average for the year.

U.S. totals for August for new single-family home construction levels dipped 2.4 percent downward from July's numbers. Year-To-Year combined new construction starts were 8.0 percent above levels from August a year ago; isolating the category of single-family starts, they were 4.2 percent higher than a year-ago.

Brad Hunter of Metrostudy said that new home production has been gyrating month-to-month, but is likely to end "flat." Minneapolis home builder confidence spiked to its highest in nine years, as reported by the Builders Association of the Twin Cities. Hunter indicated that the power behind that increase comes from home buyer signals of greater confidence in the economy, personal finances, and job security.

National Association of Home Builders (NAHB) Chairman Kevin Kelly, stated in a September 17th report: "Since early summer, builders in many markets across the nation have been reporting that buyer interest and traffic have picked up, which is a positive sign that the housing market is moving in the right direction".

"Prospective home buyers gain added benefits from new housing data insights that offer guidance when deciding whether it is better to purchase a newly constructed home or a previously owned Twin Cities home," comments Thuening.

About Home Destination - Twin Cities Real Estate:
Home Destination offers a loyal and committed real estate professional service that personally handles all the details of selling or purchasing a Twin Cities home. Highly regarded by peers as a Minneapolis metro expert for over 15 years, gain a skilled representative as guide to make the best possible housing decisions. Helping all home buyer types, from individuals seeking to buying a new home to a previously occupied home, Jenna Thuening has the real estate experience and acumen buyers and sellers benefit from.

Contact:
Jenna Thuening
Web. http://www.homedestination.com
Email. jenna(at)homedestination(dot)com
Tel. 612-396-7832

Jenna Thuening, Home Destination, http://www.homedestination.com/, +1 612-396-7832, [email protected]

Modal title

Twin Cities Q2 2014 Housing Survey and Impact of New Construction
View PDF
Twin Cities Q2 2014 Housing Survey and Impact of New Construction
Twin Cities Building Permits Chart for August 2014
View PDF
Twin Cities Building Permits Chart for August 2014
Median Sales Price - By Construction Type
View PDF
Median Sales Price - By Construction Type
NEW RESIDENTIAL CONSTRUCTION IN AUGUST 2014
View PDF
NEW RESIDENTIAL CONSTRUCTION IN AUGUST 2014
Twin Cities Q2 2014 Housing Survey and Impact of New Construction Twin Cities Building Permits Chart for August 2014 Median Sales Price - By Construction Type NEW RESIDENTIAL CONSTRUCTION IN AUGUST 2014

Contact PRWeb

  • 11AM ET Sunday – 8PM ET Friday
  • Contact Us

About PRWeb

  • About PRWeb
  • Partners
  • Partnership Programs
  • Editorial Guidelines
  • Resources

Why PRWeb

  • Why PRWeb
  • How It Works
  • Who Uses It
  • Pricing

Accounts

  • Create a Free Account
  • Log in
  • Contact Us

Do not sell or share my personal information:

  • Submit via [email protected] 
  • Call Privacy toll-free: 877-297-8921

Contact Cision

Products

About

My Services
  • All News Releases
  • Online Member Center
  • ProfNet
Cision Distribution Helpline
888-776-0942
  • Legal
  • Site Map
  • RSS
  • Cookie Settings
Copyright © 2025 Cision US Inc.