Market Update - 6/7/2024

David Wallace
June 09, 2024 • Estimated Reading Time: 7 minutes

RECENT TRANSACTIONS

3531 Harriet Ave

Image Source
3531 Harriet Ave, Minneapolis, MN 55408

eCRV: 1655171

2120 Minnehaha Ave

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2120 Minnehaha Ave, Minneapolis, MN 55404

eCRV: 1655095

1914 E 22nd St

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1914 E 22nd St, Minneapolis, MN 55404

eCRV: 1655106

ON MARKET

There are 114 listed multifamily properties on the market for a total of 4,583 units.

The table below shows a breakdown of the current on-market inventory by unit count.

Sources: We track on-market inventory through 3rd party listing services including Crexi, Loopnet, CoStar, Yardi, and RCM Marketplace. We also source data from NorthstarMLS and NAR RPR. Data are deemed to be reliable, but not guaranteed.

NEWS

St. Paul landlord sued by security company for nearly $1M: LINK

Capella Tower in downtown Minneapolis goes to lender MetLife: LINK

Developers delay housing plan at The Heights in St. Paul after Legislature aid stalls: LINK

Huber Equity Group plants flag in Twin Cities multifamily: LINK

TWIN CITIES ECONOMY

Minneapolis-St. Paul-Bloomington, MN-WI

The Minneapolis MSA had a lower inflation rate and an overall slower increase in the Consumer Price Index than the national average.

Source: U.S. Bureau of Labor Statistics

Housing Inventory

The median home value increased by 2.7% over the last year as for-sale inventory remains historically low.

Data Based on 7-County MSP Metro: Anoka, Carver, Dakota, Hennepin, Ramsey, Scott, and Washington counties.
Source: InfoSparks

RATES AND STATS

Treasury Yield Curve

While treasury rates have increased at all levels, the short end of the curve is moving up at a slower rate than the longer end of the curve.

The yield curve continues to be inverted but has been flattening over the last 12 months.

Source: Treasury.gov
Source: Wall Street Journal

SOFR

Source: New York Fed

FINANCIAL MARKETS

Stock Indexes

Source: Wall Street Journal

Consumer Rates

Source: Wall Street Journal

CONTACT US

I hope you enjoyed this update.

Have any questions?
Want to learn about our current listings?
Considering a sale of your property?

Drop us a line today.

Twitter: @David_J_Wallace

LinkedIn: @David-J-Wallace

Website: www.mfirealtyadvisors.com

Email: [email protected]

Phone: (612) 524-9483

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