(Single Family) Home Highlights of 2023
Interest rates dominated the headlines in 2023, putting the brakes on the rollercoaster ride of buying and selling that followed the record-low interest rates in 2021 and 2022. This month is a nosey neighbor highlight reel of 2023 of the seven-county metro area – Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties. Explore the most and least expensive homes sold, and offer a glimpse into what you can expect for the median single-family home price point in each county.
The most expensive home sold in the Twin Cities metro area in 2023 is located on Lake Minnetonka. 405 Bushaway Road, Wayzata, sold for $10,000,000 in September after only twenty-six days on the market. With five bedrooms, seven bathrooms, and a massive 6,775 square feet, this home boasts incredible views from the oversized windows throughout. Take a peek here!
Structural issues are no joke regarding homeownership, and the ones plaguing this home made it the least expensive property sold in the Twin Cities Metro in 2023. Unfortunately, despite updates throughout the main floor and second level, they've done little to offset the expense of trying to fix the collapsed basement wall. This two-bedroom, one-bathroom home in Minneapolis closed at $32,900 in September. Take a look here.
In the seven-county metro area, the median home price peaked at $410,000 in August 2023. Depending on the city and county, $410,000 will get you a range of features, square footage, and condition. Starting in Hennepin County, this South Minneapolis three-bedroom, one-and-a-half bath, 1,510 finished square feet home closed at $410,000 in September 2023. Take a look here.
Moving to Ramsey County, this Saint Paul home closed for $409,000 in October 2023. Coming in at three bedrooms, two baths, and a total finished square footage of 1,705. Take a look here.
In Washington County, you can acquire this side-by-side townhome for $410,000, boasting two bedrooms, two baths, and a total finished square footage of 1,465. Take a look here.
In Dakota County, this split-level home closed for $410,000 in August 2023, four bedrooms, two bathrooms, and a total finished square footage of 1,980, this property also features an oversized lot. Take a look here.
In Scott County, this Savage home closed for $411,000 in August 2023. Built in 1992, this home contains four bedrooms, three bathrooms, and a total finished square footage of 2,514, situated on half an acre of land. Take a look here.
Heading up to Anoka County, this three-bedroom, two-and-a-half bathroom home, is a spacious 2,826 finished square footage and closed in September 2023 for $410,000. Take a look here.
Lastly, wrapping up in Carver County, this four-bedroom, three-bathroom home, built in 1997, has a total of 2,317 finished square feet and sits on a spacious half-acre lot. Take a look here.
Throughout 2023, homes consistently sold rapidly, despite the rise in interest rates. In January 2023, homes reached their lowest days on the market at eleven, increasing to a peak of only sixteen days in August. Depending on your specific home requirements, lifestyle, and commute preferences, the purchasing power of your budget can significantly differ across various cities. The dynamics of the real estate market vary based on location and property specifications, so please feel free to reach out with any questions!
