Minneapolis Buyers Face Duplex Shortage

southwest minneapolis duplexes in short supplyIt’s hard to believe, but there’s a shortage of duplexes in some areas of the Minneapolis and St Paul markets.

That’s exactly the opposite of what you’ve been told by other Realtors, as wells as the local and national media. 

In fact, if this were the Sesame Street game “One of These Things Is Not Like The Others”, I’d be the thing that doesn’t belong.

That’s OK. I’ve always enjoyed being the resident contrarian. And I’m often right.

So what makes me right this time?

For starters, I received my fourth phone call in a month from another Realtor asking if I had any duplex listings coming up in southwest Minneapolis, Uptown, or Kenwood Isles. He was the fourth separate Realtor.

The buyers each and every one of these agents represent are looking for exactly the same kind of duplex.  I have three clients of my own right now looking for the same kind of property.

What exactly does this highly sought-after but rarely found duplex look like?

First, it’s in a highly walkable neighborhood, close to amenities like walking paths, the lakes, neighborhood coffee shops and restaurants.

Most of the time, it’s was originally built as a duplex. If it was converted from a single family home, it must have been done with exceptional attention to flow and detail.

It must be move-in ready and not on a busy street. Charm and woodwork are always the unwrittens on the mental list of most buyers in these neighborhoods.

While we all know duplex values aren’t what they were in 2006, these buyers are nonetheless qualified to purchase southwest Minneapolis duplexes ranging from $225,000 to $500,000.

If you have a classic southwest Minneapolis, Kenwood or Uptown duplex you’ve been thinking of selling, but aren’t sure the time is right, please call or email me.

There’s a good chance the timing is perfect.