One of the areas that have become popular with first time home buyers are the greater Minneapolis St. Paul housing market. This area is the largest metropolitan area in the state of the Minnesota and upper Midwest region. Along the Mississippi riverfront you will find a hot bed for Minneapolis condominiums. Areas like St. Paul’s Lowertown, North Quadrant Region, and North Warehouse Districts are very popular with condo buyers.

Many of the new high rise developments and luxury condos have beautiful views of the city along the river. Warehouse and factory building have been turned into condos because they have stable structures that provide solid building structures for the condominiums. Some of these range from $400,000 in the lower end to over $1,800,000 for luxury penthouse condos.

Currently the real estate market has been in down mode for the past year and the Minneapolis condominiums market has seen the bottom of the price declines. The inventories of condos under $400,000 in recent months have been dwindling and few constructions are being brought to the market. Some experts are agreeing that price has stabilized in North Loop and Mill District where they are affordable at around $300,000.

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