NEW YORK, June 9, 2023 /PRNewswire/ Sotheby s International Realty is pleased to announce that for another consecutive year, it is the most represented real estate brand on the 2023 RealTrends . | June 9, 2023
Once again predictions that the luxury condo market would take off as new projects open their doors remain just that predictions. For the third year in a row, top prices have remained steady, consistent, even boring.
The Twin Cities’ top home sale of 2020, ringing in at $8.295 million, is a five-bedroom, six-bath, 8,069-square-foot custom home completed in 2018 at 20760 Linwood Road in Deephaven and boasting more than 100 feet of Lake Minnetonka waterfront. (Photo: Anne Bretts/Special to Finance & Commerce)
As we prepare to bid 2020 goodbye and good riddance, there are a few areas to celebrate. One of them has been the remarkable resiliency of the housing market. Stalled for a few weeks when COVID-19 first hit last spring, sales roared back.
“The real driver was interest rates,” said John T. Wanninger of Lakes Sotheby’s International Realty. Low interest, coupled with families trying to work, play and study in the same place has encouraged buyers to buy big homes and add amenities.