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Realtors, builders weigh in on the central Minnesota housing market

ST. CLOUD  It s more of the same in the Central Minnesota housing market, with inventory continuing to tighten and sales prices increasing. But if you re hoping to wait to buy or build new, industry insiders have news for you: They re not expecting that trend to change any time soon. According to market updates from the Minnesota Realtors, year-to-date new listings are down in Central Minnesota by 10.5% in 2021 compared to the same time frame (January through March) in 2020. Premier Real Estate Services realtor and St. Cloud Area Association of Realtors Nancy Costanzo said while the decline in inventory has been going on for years now, the current inventory squeeze is the worst she s seen in her career.

What s it like to buy or build a new home? Realtors, builders weigh in on the current market in Minnesota

What s it like to buy or build a new home? Realtors, builders weigh in on the current market in Minnesota Sarah Kocher, St. Cloud Times © Dave Schwarz/dschwarz@stcloudtimes.com Construction continues on streets and new homes Friday, April 30, 2021, in Sartell. ST. CLOUD  It s more of the same in the Central Minnesota housing market, with inventory continuing to tighten and sales prices increasing. But if you re hoping to wait to buy or build new, industry insiders have news for you: They re not expecting that trend to change any time soon. According to market updates from the Minnesota Realtors, year-to-date new listings are down in Central Minnesota by 10.5% in 2021 compared to the same time frame (January through March) in 2020.

Multi-family housing projects now allowed in general business zones in Willmar

Multi-family housing projects now allowed in general business zones in Willmar Following a public hearing during Monday s Willmar City Council meeting, the council approved amending the zoning ordinance to allow multi-family housing projects to be built in general business zones. The amendment paves the way for a new apartment complex to be built in the Waterview Business Park, which includes stores such as Walmart and PetSmart. 8:00 pm, Apr. 19, 2021 × The area outlined in blue is the future site of Preserve on 24th, a new multi-family housing complex in Willmar. Northeast of the site is Walmart, PetSmart is directly to the west and Target is to the southwest. The amended zoning ordinance approved Monday, April 19, 2021, by the Willmar City Council will now make this project possible. (Kandiyohi County GIS map)

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