Minnesota Homes & Real Estate


STATE OF MINNESOTA REAL ESTATE

State of Minnesota 

This land of 10,000 lakes is known all over the world for possessing vast areas of wide open spaces, national parks and forests, picturesque lakes and a clean and green environment. It is primarily for these reasons (and a lot more!) that the State of Minnesota is among the most livable states in the country. 

The State of Minnesota may be the 12th largest state in terms of area but it is also considered one of the most populous states in the country today. Majority or almost 60% of the state’s population reside in the Twin Cities of Minneapolis and St. Paul. Understandably so, considering that the two cities has remained the center of business, communication and transportation in the area. 

One of its main cities, Minneapolis, has recently been cited number one among the most affordable places to live well based on the affordability of housing as well as cost of living. The State of Minnesota is known for its highly educated and healthy population. 

The name Minnesota, which came from two Indian words which means clouded or tinted water, is appropriate since the state boasts of thousands of lakes making it one of the top tourist destinations no matter what the season is. The State of Minnesota is a great place for water-based activities, fishing, camping and even hunting. 

Population Profile 

The rise in the State’s population from 3.41 million in 1960 to 5.167 in 2006 is evidence of the State’s attractiveness to migrants both from other states and even from other countries. Majority or 86.3% of the State’s population are Whites followed by Blacks (4.1%), Hispanics 3.6% and Asians (3.4%). 

History 

The original settlers of the State of Minnesota were Native Americans including the Anishinaabe and Dakota. The migration of the Ojibwe Indians in the area in the late 1600s caused a stir among the Sioux Indians. The construction of Fort Snelling between 1819 and 1825 is one important part of the history not only of the State but it has a greater significance to the development of Minneapolis and St. Paul. The construction of a sawmill along Fort Snelling encouraged the population in the area which further led to the establishment of St. Paul. 

The early economy of Minnesota was fueled by farming and logging and the accompanying industries like milling. The growth of the milling industry in the area was led by Pillsbury and General Mills. The discovery of iron in the 1880s led to the growth of the State’s iron and mining industries. This growth was however challenged by the Great Depression which resulted to massive layoffs for miners, low-incomes for farmers and the resulting labor unrest. 

Minnesota’s economy rebounded after World War II with the introduction of new technologies which automated the farming process. It became the center of technology and became the location of businesses like Control Data Corporation and Medtronic. The economic growth in the area encouraged more demand for housing, jobs and transportation. 

The development of both the cities of St. Paul (the state capital) and Minneapolis paved the way for the existence of the Twin Cities metropolitan area which further spelled the economic growth of Minnesota. 

Economy 

From a raw-material producing state, Minnesota has developed into a diversified economy over the last 200 years. With a $234 billion gross domestic product in 2005 and with 36 publicly traded companies belonging to the top 1000 (in terms of 2006 revenues) headquartered in the State, Minnesota is on its way to becoming an economic power in the country. Among the companies that have made Minnesota their base of operations are General Mills, U.S., Cargill, 3D, Target, Medtronic and United Health Group. 

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New Listings

Featured picture for the property 5199948
$2,150,000
Wayzata, MN
2
beds
3
baths
Listing courtesy of Coldwell Banker Burnet Minnesota
Featured picture for the property 5201481
$995,000
Medina, MN
4
beds
5
baths
Listing courtesy of Coldwell Banker Burnet Minnesota
Featured picture for the property 5021668
$849,900
Minnetonka, MN
4
beds
4
baths
Listing courtesy of Keller Williams Premier Realty Lake Minnetonka Minnesota
Featured picture for the property 5201576
$699,900
Minnetonka Beach, MN
4
beds
4
baths
Listing courtesy of RE/MAX Advantage Plus Minnesota
Minnesota
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Today's Market Trends for Minnesota Homes & Real Estate *

$1,676,060

0%

$333

0%

111

0.13%

February

January

 

98

92

 

 

0.07%

-0.23%

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* All data pertains to single-family homes