As the fourth largest city in the Twin Cities metropolitan area, Shakopee is a rapidly growing community in the southwestern suburbs of Minneapolis. The city is home to a diverse population, with a strong focus on families and education.
The Shakopee housing market is expected to continue and grow in the coming years as more people move to that state’s area in search of a high quality of life. Continue reading to learn more.
What Is the Average Home Price in Shakopee?
The average home price in Shakopee during the previous quarter of the year is $474.3K. This is a considerable increase from the prior year, where 2020 only experienced 370k and 2021 saw 400k in the average home price in Shakopee’s housing market. The prices are expected to increase in the coming years.
What Is the Low Home Price in Shakopee?
The median home price in Shakopee is around $474k, which is lower than the statewide median price of $330,000. However, prices can vary greatly depending on the specific location and type of home. Bloomington and Apple Valley are the cheapest areas in that part of the state, with homes ranging around $158K, $229K, and $240K.
What Is the High Home Price in Shakopee?
There are certain areas in Shakopee that are much more expensive as well, with homes on 133rd Street priced around $2.4 million while those by Peninsula Point Road go for $2.395 million. This is likely because Shakopee is a desirable suburb of the Twin Cities, with good schools, safe streets, and a variety of housing options.
What Is the Average Timeline of a Property?
Getting properties off the market can take anywhere from several weeks to a few months. Granted, the average timeline for a property in Shakopee is around 15 days, even though the average was around ten days last year. Home sale prices are notably up by 9%, though, in comparison to last year’s statistics.
What Are the Ideal Areas in Shakopee?
There are many wonderful areas in Shakopee, Minnesota, but there are three aspects in particular that stand out as being ideal for residents and visitors alike such as:
- Community. The community in Shakopee is strong and supportive. There are many different organizations and groups that work to make the city a great place to live.
- Economy. The economy in Shakopee is very strong. The city is home to many different businesses, both large and small. There is a lot of opportunity for economic growth.
- Safety. Safety is a top priority in Shakopee. The city has a very low crime rate and is very safe for residents and visitors alike. There are also many different events and activities that take place in Shakopee without a hitch.
Conclusion
In conclusion, if you’re thinking of buying a home in Shakopee in 2022, it’s important to be aware of the current housing market trends and conditions. Get updated on the news to find the best home for you and your family.
Want to know more about the Shakopee housing market? Real Estate News offers all the latest information and predictions about Minnesota and Minneapolis real estate. Get in touch with us today!
