Maple Grove Homes Tops New Housing Starts
Maple Grove had the second largest number of new home building permits in April, behind Blaine. The top cities in order were: Blaine, 36: Maple Grove, 28; Shakopee, 18; Farmington, 16; and Otsego, 16. This is a 50% jump in new units over either 2008 or 2009 according to the Builders Association of the Twin Cities. There were 304 permits issued in April across the Twin cities versus 118 in April 2009 and 180 in April 2008.
Despite this dramatic uptick, everyone remains cautious. Much of this activity has been spawned by the home buyer tax credits that expired at the end of April. Also, with sub contractors and suppliers fighting for work, buying a newly constructed home is actually now comparable to buying a 5-10 year old home of the same size. Why wouldn’t you want one of the new Maple Grove Homes?
Total value of the new construction that is taking place is also up slightly over 2009 & 2008, but it is less than 50% of the 2007 values and less than 1/3 of the 2006 values. Most of the new construction energy has been concentrated in the first time home buyer market as that market has been selling despite the economy woes. Maple Grove has several areas that are in that sub $200,000 price range for a new home buyer.
However, year-to-date home construction in the Twin Cities continued to lag, with 1,104 new home permits thus far in 2010, compared to 2,883 units permitted through the same point last year. Housing start numbers for March in the Twin Cities were actually down almost 30% from 2009, according to the Builders Association. Maple Grove real estate was again in the top 5 of housing permits for March.
As a real estate agent in Maple Grove, I can help you find your best value in homes today whether you are interested in a townhouse, condo, or single family. I am expert at foreclosures, short sales, and investment properties. Call me and we can discuss your housing goals.
I am a licensed Realtor in the State of Minnesota. This website is not a multiple listing service, but each Minnesota & Minneapolis real estate agent is a member of the Regional MLS of MN, inc., a provider of the Minnesota MLS.
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