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Market Update February 2025
Looking Ahead to 2025!
Exciting changes and opportunities are on the horizon! With incredible new listings, motivated buyers, and our expansion into the Florida market, our team is poised for a dynamic year ahead.
Market Conditions
Inventory levels remain historically low, both nationally and in the Twin Cities market. However, new listings have been on the rise, with an uptick in activity as of February 1st. Buyer motivation continues to be influenced by interest rates, inflation, and limited inventory, leading to a “wait and see” approach for some.
That said, I believe there are fantastic opportunities in today’s market. While existing home prices may experience some downward pressure as the market recalibrates from pandemic-driven shifts, the cost of new construction remains high. In Edina, where population growth is projected to increase by 10% over the next five years, redevelopment and rezoning will be necessary to meet demand—introducing new housing options. Factors such as inflation, rising labor costs, and increasing regulatory and business expenses—all contribute to the cost of new construction.
Market conditions vary by community, making localized pricing and marketing strategies essential. In more established areas, existing homes often offer better value compared to new construction. Meanwhile, newer move-in-ready homes provide an excellent alternative for buyers looking to avoid long build times and market uncertainties. Additionally, outer-ring communities are expanding rapidly, bringing high-quality retail and lifestyle amenities once exclusive to urban centers.
No matter where you are in your homeownership journey, our team is ready and eager to help you navigate the market and find, or sell, your perfect home!
New Horizons
I’m thrilled to announce my new role as Sales Manager for Edina Realty’s Naples office, where we are building a dynamic Southwest Florida team! After nearly 20 years in the Minnesota and Wisconsin real estate markets, I’m excited to expand my focus and take on this new opportunity to better serve our clients. While I’ll be leading our efforts in Florida, I remain actively involved in our Minnesota operations, with Lisa expertly managing on-site. I look forward to helping clients navigate both markets and making this next chapter a success!
To read details of Minnesota's housing stats for January 2025, broken down into regions, click here!
I hav have been thinking what to write as a market recap for this
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Our Current Listings & Recent Sales | |
5144 Ridge Trail - FOR SALE!
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Edina, MN 55436
$3,495,000
Nestled in a quiet cul-de-sac in Parkwood Knolls, this exquisite custom home blends industrial chic with old-world timelessness, creating a residence designed for both grand entertaining and everyday luxury. At the heart of the home, a free-floating custom iron staircase, framed by a two-story wall of windows, is juxtaposed against wood-beamed cathedral ceilings and anchored by a massive stone fireplace. A suspended walkway leads to three upper-level ensuite bedrooms and a dedicated laundry room with workspace. The kitchen is a chef’s delight, featuring custom wood cabinetry, Cambria countertops, and top-of-the-line Wolf and Sub-Zero appliances and wine storage.
See more photos & details
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5145 Kelsey Terrace - FOR SALE!
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Edina, MN 55436
$3,495,000
Set in the highly sought-after Parkwood Knolls neighborhood, this stunning residence was expertly remodeled in 2019 by a renowned local designer. Every detail of the home exudes luxury and sophistication, with custom finishes and an open-concept design that creates a harmonious blend of style and functionality.The chef’s kitchen is a true showstopper, featuring high-end appliances, custom cabinetry, and a large island ideal for both casual dining and entertaining. The expansive living and dining areas are bathed in natural light, offering a seamless flow that’s perfect for gatherings of any size.Designed with relaxation and entertaining in mind, the backyard is a private oasis, complete with a beautifully landscaped pool.
See more photos & details
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18652 61st Circle North - FOR SALE!
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Plymouth, MN 55311
$875,000
Welcome to this exquisite two-story home, nestled in a serene neighborhood. As you step inside, you’re immediately greeted by soaring ceilings, expansive windows, and a bright, open floor plan that seamlessly flows from one room to the next. This remarkable 4-bedroom, 5-bathroom residence offers 4000 square feet of meticulously crafted living space. Boasting a spacious 3-car garage, an impressive sport court, and breathtaking private views
See more photos & details
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4330 Wilson Street - SOLD, BUYER'S SIDE!
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Minnetonka, MN 55345
$540,000
Blending the best of old and new world, this charming Dutch colonial sits on more than an acre of privacy in a neighborhood of high-end homes. The property has been completely updated with a beautiful open floor plan and high-end finishes, including a beautiful primary bath and upper level ¾ bath. The upper level features 3 bedrooms, the primary features a walk-in closet, a private deck, a fireplace, and vaulted ceilings.
See more photos & details
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Considering a Spring Sale or Purchase? | |
We are working with many sellers in the Parkwood Knolls area in preparation for the coming Spring Market. if you or someone you know is looking to make a move into West Edina, reach out and we will see if your criteria match anything we are working on! | |
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Right now we have buyers who need:
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20+ acres in the western suburbs with 5+ bedrooms and 4+ baths in the $1,500,000 price range
- Condo in Edina, Eden Prairie, Minnetonka, Wayzata, or Bloomington. Budget: $1.2M with 3+bedrooms, 2+ baths, 2 parking spaces
If you've got ideas, please contact us at HeatherHansen@EdinaRealty.com
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The Rising Cost of Homeowner's Insurance
It's not just homeowner's insurance premiums that have gone through the roof (pun intended)—auto and health insurance costs have exploded as well.
But homeowner's insurance has been hit hard in particular. There are many factors at play here. Inflation and the rising cost of reconstruction materials have contributed. But as we all know, natural disasters have caused huge increases everywhere and particularly in areas where fires, flooding, tornadoes, and hurricanes occur the most.
There are a few things you can do to mitigate these costs. Read "Why Homeowners' Insurance Costs So Much—and How to Pay Less" here.
We have trusted resources available for all kinds of homeowner maintenance and repair. Please reach out via email or give us a call at 612-366-0051 and we will connect you with professionals we trust that can help!
Photo by Kelly Sikkema on Unsplash
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What Is Heather Reading Now? | |
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Lisa, Grace (my daughter), and I are all reading The Let Them Theory by Mel Robbins. Letting others be and do what they will, and letting go of the idea of control has opened up a lot of time and mental capacity to focus on the things I am in control of, like working on my own personal and professional development, encouraging others, and spending quality time with my family and friends without the worry of how things will turn out!!
Give it a read!
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