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Jim Buchta - StarTribune.com

Jim Buchta - StarTribune.com
startribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from startribune.com Daily Mail and Mail on Sunday newspapers.

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Pandemic has more Twin Cities home buyers looking outward


Pandemic has more Twin Cities home buyers looking outward
Remote work lessens downtown s appeal. 
January 30, 2021 1:44pm
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It took just two days for a split-level house near Stacy to sell this month. Put on the market on a Friday for $284,900, it was shown 18 times and drew five offers by that Sunday, all above asking price.
Realtor Hyounsoo Lathrop wasn t surprised.
With COVID, people want to be away from the cities and have some space, she said. Out here you get top dollar.
The modest 1970s-era house some 40 miles northeast of downtown Minneapolis had taken much longer to sell and for a much lower price just a few years ago. But the COVID-19 pandemic is turning the housing market in the Twin Cities inside out. ....

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Ranking the hottest housing markets in the Twin Cities


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For home sellers in the Twin Cities metro, 2020 couldn’t have been better. For buyers, however, last year was a battle. With mortgage rates falling to record lows and a pandemic upending how and where people want to live, sales exceeded new listings throughout much of the metro. Bidding wars were the norm and prices rose to record highs, forcing buyers to several far-flung suburbs that topped the Star Tribune’s fifth annual Hot Housing Index, which ranks communities based on the annual change in average market time, sale price, number of sales and percent of original list price received by the seller. ....

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