Real Estate Directory - Minnesota

Population: 5,059,375 (all 2003)
Capital city/population: St. Paul 280,404
Largest cities/population:

  • Minneapolis - 373,188
  • St. Paul, Rochester - 92,507
  • Duluth - 85,734

Minnesota is the 12th largest state, with a total area of 86,943 square miles. The state has 90,000 miles of shoreline, more than California, Florida, and Hawaii combined. Because of its location in the middle of the continent, Minnesota experiences changeable weather, ranging from polar air masses from Canada to extended heat waves, the result of warm, moist air from the Gulf of Mexico. Annual temperatures range from 39ºF in the northern portion to 69ºF in the southern portion. Subzero winter temperatures are common. Some interesting inventions from Minnesota include masking and Scotch tape, Tonka trucks, Wheaties cereal, Bisquick, and the bundt pan. Minnesota was admitted into the union on May 11, 1858.

HOUSING

Minneapolis – Home inventory is high in this city, which is ranked among one of the best places to live in the nation. Average sales price for a single-family home is $359,965, with homes remaining on the market for approximately 43 days. Agents report a slight shift in market balance, settling away from an earlier home seller’s market.

St. Paul – Home prices in this thriving community range from $233,000 - $588,000, depending upon location, with homes averaging a stay on the market for approximately 60 days. Known for its diverse population, St. Paul has many interesting museums, theatres, and restaurants. The city is also known for its “Skywalk”, an overhead walking system connecting the majority of the downtown area, making for easy travel.

Rochester – This town’s real estate market remains a buyer’s one, with a large amount of new listings. Average time from list to sale is more than three months. Agents report that sellers must do the work necessary to make their properties attractive to prospective buyers, while buyers must do their financial homework prior to making offers.

Duluth - Due to the late date, buyers seem to be decreasing in number. Local agents report that prospective buyers feel the market is over inflated at this time, which could account for the higher number of homes on the market. This might also explain why sellers sometimes have to accept lower offers now than they would have earlier in the year. Duluth offers shopping malls, museums, sports arenas, and great wildlife areas.

BUSINESS/ECONOMY

Principal industries include agribusiness, forest products, mining, manufacturing, and tourism. Manufactured goods include food, chemical and paper products, industrial machinery, computers, scientific/medical instruments, and metal products. Corn, soybeans, wheat, sugar beets, hay, potatoes, and sunflowers are chief crops. Total state product for 2003 was $211 billion, with a per capita income for the same year of $34,031.

SCHOOLS

Minnesota now has standards in place for the arts, language arts, mathematics, science, and social studies for the K-12 grades. These standards were established using national standards, benchmarks, and professional organizations. Student-teacher ratio for 1994 was 17:5, with an average teachers’ salary for 1995 of $36,937.

State universities include Winona State, Mankato, St. Cloud, Moorhead, Bemidji, Marshall, and the Twin Cities. The oldest college in the state, Hamline University – St. Paul, was founded in 1854.

HISTORY

Evidence supports that Minnesota was inhabited long before the era of the Mound Builders, with a skeleton found in 1931 believed to date from the late Pleistocene epoch, 20,000 years ago.

When the French arrived, the Ojibwa and Sioux were the dominant tribes. Minnesota was an excellent source for furs, and continued to supply pelts well after the War of 1812, when serious settlement of the area began.

In 1849, Minnesota became a territory, and towns grew due to the chartering of railroads and road building. Small farms dominated the economy, with Scandinavians and Finns providing labor for lumbering and farming activities. The early part of the 1900s saw many difficulties arise over labor disputes, and as the years pass, the state is becoming progressively more urban. In 1970, the urban population was two thirds of the total, especially in the Minneapolis-St. Paul area.

RELIGION (2004)

  • Christian – 84%
    • Protestant – 58%
      • Lutheran – 26%
      • Baptist – 5%
      • Methodist – 4%
      • Presbyterian – 3%
      • Other Protestant – 20%
    • Roman Catholic – 25%
    • Other Christian – 1%
  • Other religions – 1%
  • Not religious/Agnostic – 15%

DEMOGRAPHICS (2004)

The racial makeup of the state:

  • White - 88.2%
  • Black - 3.5%
  • Hispanic - 2.9%
  • Asian - 2.9%
  • Native American - 1.1%
  • Mixed race - 1.4%