Looking for a bigger house and a larger yard at a somewhat more affordable price? Join the crowd. Home buyers are going off the beaten path in a big way, making outer-ring suburbs the hottest markets in the metro during 2021. From Minnetrista to Princeton, these far-flung communities have risen to the top of the Star Tribune's sixth annual Hot Housing Index, quickly replacing the inner-ring suburbs that once dominated.
That shift is being driven in part by the pandemic. People are spending more time at home and want bigger spaces. More people are working remotely, making commute time less important. High home prices in the Twin Cities and inner-ring suburbs are also a factor, forcing many buyers to seek better values in more exurban locales.
To identify the metro's most dynamic and sought-after housing markets during 2021, the Star Tribune used data from the Minneapolis Area Realtors to compile its index, which ranks communities based on several key sales metrics including the annual change in the number of sales, available inventory and sale price (per square foot). We ranked each community on those metrics and combined those rankings to get an index score.
Instead of identifying communities that were simply the most affordable - or expensive - the index compares 2021 sales data to an average of the previous five years to identify changes in buying and selling patterns throughout the metro.
Use the search tool below to see rankings for cities that had at least 80 annual sales, not including seasonal properties and new construction because not all new homes are listed and sold through the Multiple Listing Service. In addition to the Hot Housing Index results, you can also see the past six years of real estate sales data for each city, plus Minneapolis and St. Paul neighborhoods and other metro area cities that didn't have enough sales last year to be included in the index.
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Located in Hennepin County, Minnetrista ranked 1 on the Star Tribune's 2021 Hot Housing Index. Average price per square foot was up 28 percent compared to previous five-year average. Houses sold, on average, 54 days faster compared to the previous five-year average.
Historical real estate trends in Minnetrista
Key metrics provide a glimpse into how this real estate market has changed since 2016 compared to the metro.
How Minnetrista compares to the rest of the metro
Histograms use U.S. Census data to show where this city falls in relation to other cities in the 13-county metro area on key housing and income measures.