New construction homes are a dynamic area in the Minneapolis real estate market. It is constantly evolving to the likes and tastes of the buyers. In this blog post we are covering a number of trends that we see as top ranked realtors working closely with buyers who decide to build new homes as well as the builders we work closely with to shape and influence homes for sale.
Now more than ever, it is all about context.
Over the last few years in areas we have noticed Buyers increasing need for context of the new construction home within an area. As a quick case study check out the home above which is a new construction home skillfully built by Kroiss Development in Crocus Hill for sale. The vision for this home from its conception was to blend into a neighborhood that is one of the most historic in all of St Paul. The architects and builder understood the vision and when this home was completed, not only was it a best in classs showstopper of a home but the feedback from the neighbors and buyers was that it MUST be a remodel of an older home! In a world that lacks much historical context, we are seeing the buyer market craves these components within a new build.
The total square footage matters.
Buyers have always looked for every square foot to deliver value. Going into the new year this is even more clear as the shift from extra large homes is shifting to decreasing in size new builds. The formality of spaces in the past are disappearing and giving rise to carefully crafted, significantly smaller homes. Part of this trend is driven by the sheer number of individuals in families decreasing but broadly speaking, the economics to build a larger home are not as practical.
The devil is in the details.
Sites like Houzz and Pinterest are havens for anyone looking for inspiration in new construction. Fit and finishes baked into new construction homes is becoming even more important to Buyers who demand a higher level of detail. From site finished hardwood floors to windows to the caliber of appliances, the collective shift is toward smaller homes with more details.
Thinking about building or purchasing a home this year?
New construction can be a gray area in the real estate market. From site aquisition, architects, interior designers and builders, costs can very significantly across the board. Reach out and leverage our professional real estate services. We are constantly working with Buyers coming to us with search criteria and backing into different scenarios to craft the perfect new construction homes. Other Buyer clients simply need our assistance to navigate the current available inventory in the market and understand the differences and values. Call us for a complementary appointment to gain perspective and market insight!