According to Minnesota CBS Local, a report from Coldwell Banker released this week shows that Minnesota is the fourth in the United States with respect to the average cost of buying a house with four-bedroom and two-bathroom. Furthermore, Orono was found out to be the most expensive market in the state with an average home price at roughly $1.3 million.
Moreover, Orono is the only city outside of California to be included in the list of 10 most expensive housing markets in the US, being the ninth across the country. According to the report, Orono is the recommended place for those who want to look for posher homes in Minnesota.
According to Coldwell Banker real estate agent Gregg Larsen, who's been in the west metro real estate for over 20 years, there is four-bedroom house on a 2.5-acre lot on Carriage Lane in Orono that's on the list for $1.2 million and as pricey as it may seem, Larsen expects the property to be sold in a few months.
"We get a lot of transferees here, that are moving here for a job and migrating towards the western suburbs," Larsen said. He also said that the great standard of living in the community dictates the pricing of homes in Orono. Speaking of this, he added, "We have a great standard of living here," he said. "We have great amenities. It's close to downtown Minneapolis, we've got Lake Minnetonka, great school systems, and great parks."
In Minnesota, following Orono in terms of expensive real estate are Medina, Edina, Shorewood and North Oaks. On the other hand, Sauk Rapids, according to Minnesota CBS Local, leads as the most affordable city in the state with an average listing price of $172,100. Sauk Rapids is followed by Moorhead, Albert Lea, Fairmont and Owatonna.
