Deciding on a new place to live is always a challenge. With the current market trends, there’s so much that you need to take into account to ensure you find a good neighborhood.
If you’re curious about the Coon Rapids housing market, crucial factors you will consider when looking for a home include the home prices, the quality of life, school district, and crime rates.
Home buyers prefer living on the city’s west side, with the most affordable homes being highly considered. This guide will look at the crucial factors you should consider to make the right choice in the housing market.
Average Home Price in Coon Rapids
Price will be an essential consideration when choosing a home. With the harsh economic times we’re currently facing, you may be looking for the best value for your home. Besides ensuring that you live in a safe neighborhood, you’ll be careful to ensure that you go for an affordable home that doesn’t break the bank.
Coon Rapids home values have been on a steady increase since May 2021. The average home price in the area is $329,187. The value of homes in Coon Rapids is adjusted seasonally. Over the last twelve months, the housing market value has increased by 12.5%.
Coon Rapids home values are affordable compared to other regions in Minnesota. Hence, Coon Rapids housing market is often judged budget-friendly.
High and Low Home Prices in Coon Rapids
Like any other real estate market, the prices for single-family homes in Coon Rapids vary. The most expensive home sale in Minneapolis can be as high as $883,000 with an equally high per square foot cost. For the high home prices in Coon Rapids, expect a home with 4-5 bedrooms, two full bathrooms, a living room, office, dining room, basement, and other features. You will also have ample parking space for three or more cars and a garage.
Within the same range of luxury homes, you can get a home valued at $686,000. This is a single-family residence with all the fancy features you might be looking for. This family residence comes with four bedrooms, three bathrooms, a kitchen, heating features, a living room, an office, and a garage.
Mid-range luxury home sale prices range from $500,000 to $600,0000. The prices of the homes within this budget range might not be as costly, but they still offer the best housing features in the market. For instance, you can buy a home located on the Mississippi River. The room spaces are also spacious with outstanding finishes. The best part is that these homes give you the opportunity to enjoy some of the best amenities Coon Rapids has to offer.
For low home prices in Coon Rapids, you can find a home for $110,000. In most cases, you may find a vacant property for this price. However, the property has a water connection, sewer, natural gas, electricity, phone, and cable services.
You can also get a condo valued at $165,000. The basic features you can get here include two bedrooms, two bathrooms, a dining room, one main bedroom, and several appliances. The only thing that could be an issue with the low-priced homes is that they may not be suitably located. Options for townhomes are available as well in a similar price range.
Best Areas to Live in Coon Rapids
Apart from home prices in Coon Rapids, other crucial factors influencing your decision to live in this city include the cost of living, education, weather, and transportation. You want the best for your family, so settling for the best home value will demand that you mull over the essential factors such as elementary schools or new construction homes.
The best areas to live in Coon Rapids have a high livability score, like Anoka county. Some of these areas include:
- Champlin, MN
- Falcon Heights, MN
- Hale Minneapolis, MN
- Gem Lake, MN
- Kenny, Minneapolis, MN
- Linden Hills, Minneapolis, MN
- Long Lake, MN
- Circle Pines, MN
- Shorewood, MN
- Mound, MN
- Mahtomedi, MN
- Elk River, MN
- Woodbury, MN
These places offer the best real estate properties worth investing in. For instance, for a place like Champlin, MN, you can get a real estate property valued at $159,000. Real estate agents can help you get the paperwork done.
If you’re out to get the best residence for your family, you should be ready to spend about $550,000 or more. In Falcon Heights, MN, home prices range from $200,000 to $600,000. The price varies depending on the home’s location and its unique features.
However, to get the best deal in the housing market, price is not the only factor you should bear in mind. Therefore, it’s crucial not to overlook other essentials that will make your new home livable in the long run.
Sale-to-list Price Ratio in Coon Rapids
The sale-to-list ratio refers to a buyer’s price for a home divided by the final list price expressed as a percentage. If the ratio is above 100%, it implies the property was sold for a value more than the list price. On the other hand, if the value is less than 100%, it was sold for a lower price than the list price.
Why is it important to check the sale-to-list price when looking for a home in Coon Rapids or any other area for that matter? Well, the sale-to-list percentage helps buyers for the best value during a home sale.
The sale-to-list price ratio in Coon Rapids is 103.82%. This means that properties in this city are sold at 3.82% above the regular asking price. Coon Rapids city is a seller’s market in June 2022. In other words, there are more sellers than buyers willing to purchase homes available.
Average Days on the Housing Market
You might be curious about the average days a home stays in the housing market in Coon Rapids. The average number of days on the housing market refers to the number of days a property has been listed for sale. If the days it stays on the market are low, this means there’s a high demand for homes in the market.
Typically, a house for sale in Coon Rapids stays for about 47 days before it’s sold. This is less than 100 days, meaning there is a high demand for properties in Coon Rapids. If you’re thinking of flipping and selling a home here, it won’t take time before the property is sold. Coon Rapids market trends for the average days on the housing market have been higher than last year.
Conclusion
Housing market trends in MN indicate that Coon Rapids housing market is quite competitive. If you’re thinking of moving to Coon Rapids or investing in the area, you can easily find a good real estate deal in the market. You’ve noticed that apart from the price of a home, other crucial factors to bear in mind include safety, transportation, electricity, and other amenities.
The average home price in Coon Rapids is $329,187. Compared to other cities in Minnesota, Coon Rapids offers some of the most affordable homes in the market.
Whether you’re ready to splash for the best home in the housing market or running on a tight budget, Coon Rapids has all the lovely homes with various budget ranges. Therefore, you can be sure to get a home that meets your budget expectations.
Remember, the sale-to-list price ratio is 103.82%. You can get the best value for your home, with or without an open house, since Coon Rapids housing market is a seller’s market.
And if you’re seeking to sell a house fast in Minneapolis, we at Mill City Home Buyers are the way to go. We buy houses in Minnesota, too, so make sure to contact us today!