If you want the ideal combination of a small community and a vibrant, growing city, Brainerd might be the place for you. And you probably aren't the only one who has set your sites on this magical part of Minnesota.
But before you start searching for your next real estate deal, read on. This guide will help buyers and sellers understand the key real estate trends driving the market in Brainerd, MN.
The Trend for Remote Working
Remote working may have been borne from the COVID-19 crisis, but its impact has been felt most in the real estate market.
Many companies now offer part or complete remote work to recruits, and some established office workers have switched to remote-based work. It's meant a drop in demand for commercial property as businesses look to downsize their office space.
The types of properties sought in the residential sector have changed. People want homes with private space to work, which means a demand for home offices, studies, or garden rooms.
Economic Trends and the Housing Market
In 2023 and 2024, many homeowners saw expensive rises in their mortgages. Renters also began to see rates rise. Rising inflation and other broader economic factors contributed to this.
All this activity has impacted real estate trends in Brainerd, MN. Demand for properties has fallen.
However, this is good news if you are a buyer or real estate investor with funds available. It means you can secure a property at a competitive price.
A Demand for Sustainable Homes
Sustainable homes have become more prevalent in recent years. Eco-friendly buildings are built to high standards with sustainable materials, appealing to buyers looking to lower their carbon footprint.
Buyers and tenants also want more energy-efficient homes that are more environmentally friendly and reduce energy bills. So, a home with modern, energy-efficient appliances, HVAC, and solar panels will be high on any buyer's wish list.
Vacation Properties
Brainerd is an appealing vacation destination with beauty spots, biking trails, fishing, sightseeing, and much more. It's an ideal place for investing in a short-term or vacation rental.
That means a demand for flexible, smaller properties in popular tourist areas that could appeal to those wanting a second home.
Real Estate Marketing and the Digital Revolution
Like many parts of the US, the real estate industry in Minnesota has embraced the digital world.
That's changed the landscape for property marketing. For sellers, it's an opportunity to showcase more about their property through photos, videos, and virtual tours.
For the market as a whole, it means there are increasing opportunities to promote a property to people from outside the local area, including those wanting a vacation home and those relocating from other parts of the US.
Real Estate Trends to Watch in Brainerd
The real estate market doesn't stand still. And there is no better example of this than with Brainerd. Keep an eye on these real estate trends to help secure a fantastic property deal.
Having experts to hand is the best way to find your perfect property. PMI's dual focus on customer excellence and profitability means we will support you on your journey to real estate success. Discover more about our services now.
