Halle Hughes from our team gleaned the following insights from the Twin Cities Apartment Summit: Twin Cities DevelopmentUnit deliveries in the Twin Cities are forecasted to decline by 60% in 2025, falling from an average of 11,000 units per year to just 4,000. Notably, affordable housing will make up an estimated 40% of new construction,…
Category: Apartment Real Estate Markets & Trends
Downtown Minneapolis CRE Market Update
Downtown Minneapolis, despite current headlines in real estate and news articles, remains a major driver of our economy and state. We need a thriving downtown economic engine. It spills out into every aspect of the economy and beyond. With many great speakers, here are my top distinctions from the Downtown Minneapolis Summit hosted by the…
Inflation, Interest Rates and Commercial Real Estate
With rising inflation and multiple interest rate increases in 2022, both are hot topics impacting the commercial real estate industry. We share our latest findings which help ensure we continue providing credible appraisals and valuations. Inflation and Interest Rates Inflation is running at more than a 40-year high with the July 2022 Consumer Price Index…
2021 Twin Cities Apartment Market Trends
I think we can all agree that 2021 was another year of great challenge and historic change. With that, also comes great opportunity. As we move into a new year, it’s natural to question what’s in store for the commercial real estate market in 2022. In this article, we will share the Twin Cities apartment…
Minneapolis/St. Paul – 2019-2020 Commercial Real Estate Value Trends
I attended the 2020 Minneapolis/St. Paul Commercial Real Estate Valuation and Appraisal Forecast Summit held at the Golden Valley Country Club on Friday, January 17, 2020. This year had a slight twist as I was invited to speak on the multi-family panel. Topics centered on valuation trends for the retail, industrial, office and multi-family property…
2019 Greater MN Apartment Trends
Over the past several weeks (August and part of September 2019), Simonson Appraisals appraised 20+ apartment buildings across Minneapolis/St. Paul and greater Minnesota as part of a single portfolio. Appraisal portfolio assignments are excellent projects as it allows us the time and resources to do a deeper dive into value trends impacting the property sector…
Mid-Year 2019 Minneapolis/St. Paul CRE Markets
Like the mighty Mississippi River that flows through the north edge of downtown Minneapolis, the Minneapolis/St. Paul commercial real estate market continues to move forward at a healthy pace with a few areas worth paying attention to. Here are the best insights I gathered from the panel of speakers at the June 14, 2019 Commercial…
Greater Minnesota – 2018 Apartment Trends
The following analysis is market information about greater Minnesota apartment trends based on observations compiled by Mitchell Simonson, MAI. Greater Minnesota – 2018 Apartment Trends Over the past 12 months, I have appraised numerous greater Minnesota apartments ranging in size from about 20 to 150 units. The geographic region has spanned the “banana belt” surrounding…
2017 Outstate MN Apartment Trends
Over the past 12 months, I have appraised numerous outstate Minnesota apartments ranging in size from about 20 to 150 units. The geographic region has spanned the “banana belt” surrounding the Minneapolis/St. Paul metropolitan area. The primary cities forming the “banana belt” include Rochester, Mankato, St. Cloud and Duluth. This allows us to complete in-depth…
2016 Outstate MN – Apartment Trends & Expectations
Photo taken of recent new construction in Detroit Lake, MN by Mitchell Simonson, MAI Outstate MN – 2016 Apartment Trends & Expectations In the past 12 to 24 months, I have appraised numerous outstate Minnesota apartments ranging in size from about 20 to 100 units. The geographic region has spanned the “banana belt” surrounding the Minneapolis/St….