Despite a general market slowdown, luxury homes are still selling for high prices in 2023, including a sale that was one of the biggest deals seen within the past few years. […]
The most expensive Minneapolis/St. Paul home sales of 2023
Category: Blog
A housing market on hiatus, but for how long?
By now, we are well versed that mortgage rates recently touched their highest level since 2000 and affordability crisis has created the lowest level of demand for a mortgage since 1995 […]
McFeely: ND’s richest person Gary Tharaldson buys $11 million home on Detroit Lake
Fargo billionaire calls home built by late Fargo businessman Ace Brandt ‘one of a kind’ property DETROIT LAKES, Minn. — Gary Tharaldson and his wife Connie weren’t looking for a lake home on Big Detroit Lake, but the opportunity to buy a “one of a kind” property was too much to pass up. Tharaldson, tagged by […]
Newly built Edina estate lists for $5 million
Built by Medina-based Allied Partners, the five-bedroom, eight-bathroom home is “modern (and) distinctive yet tasteful and approachable,” said listing agent Peter Prudden, of Minneapolis-based Prudden Co. Read more on Minneapolis/St. Paul Business Journal […]
‘One of the finest lakefront estates in all of Minnesota’ listed for $11M
A lavish home on Detroit Lake billed as “one of the finest lakefront estates in all of Minnesota” is on the market for nearly $11 million. Eight-bedroom, eight-bathroom residence on nearly 15-acres of land features over 330 feet of lakeshore. According to listing agent Peter Prudden, late real estate developer and businessman Ace Brandt owned the property […]
Rehkamp Larson Architects Reimagines a Posh Minneapolis Condo
Overlooking the Minneapolis Sculpture Garden is a loft-like condo that feels like a piece of art in itself. But before its bright and inspired makeover, the dwelling was dark and dated, wrapped in maple paneling and embedded with cigar smoke. To give it new life as a glam, light-filled pied-à-terre, a talented team opened up the cramped rooms and […]
Has The Housing Correction Concluded?
What a strange and wild ride it has been over the previous 12 months. We have seen interest rates lift off from record lows to levels not seen since the previous housing boom and bust. This pivot has created a perception of doom and gloom. Let’s quickly recap before we start tossing out predictions. Rates […]
Sign of the Times
As autumn is upon us, it’s common knowledge that housing has started to take it on the chin as the Fed hits the brakes hard and fixed mortgage rates have surged to over 6.7%. Home sales haven’t crumbled, housing starts are slumping, and house prices have started to roll over. Clearly a correction has commenced, […]
Are The Tides Turning
The current business cycle has been fueled by zero percent interest rates and 7 trillion dollars in quantitative easing. Typically, when the Federal Reserve begins a rate hiking cycle it’s 25 basis points at a time in a strong economy. Presently, we are faced with a fed that is behind the curve and hinting at […]
Top 4 Home Improvements Under $40,000
Preparing your home for market has never been more important than now. New construction and the increase in remodeled properties with flashy finishes and designer fixtures are making the decision easy for eager buyers wanting an updated, stylish, turn-key solution. If asked “what is our competition”, and the answer is every home on the market, […]
December Market Report
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A Look Back at 2021 & Advice for 2022
We started our firm four years ago with an idea to transform how residential real estate is marketed in the Twin Cities. At the time, we called it, “Disrupting real estate with integrity.” This tag line struck a chord with competing agents and the community at large. Whether you deliver good, bad or indifferent news, […]
301 Kenwood #101 Featured in Star Tribune
Luxe $1.8 million condo steps from the Walker offers sweeping Minneapolis views. See article here. […]
October Market Report
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Taper Talk, What Happens to Housing?
Earlier this year, I spoke about the spring switch, which touched upon consumer confidence and the fear of missing out. With rates hitting an all-time low on the 30-year mortgage in January, we saw a multi-month rise in rates leading up to early May. This exasperated the move in home prices paid and what people […]
September Market Report
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August Market Report
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July Market Report
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Minnesota’s Priciest Listing Is This $15 Million Private Island
This wild mansion located on a private island in Minnesota comes with an especially unique amenity: unlimited underground car washes. A one-of-a-kind home fit for a mysterious international spy is located on Lake Minnetonka, and has just listed for $15 million. To get to the home, the owner must wheel through an underground tunnel — […]
June Market Report
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This $15M Private Island “Spy” Lair Features’ Underground Car Wash Tunnel Entry.
This wild mansion located on a private island in Minnesota comes with an especially unique amenity: unlimited underground car washes. A one-of-a-kind home fit for a mysterious international spy is located on Lake Minnetonka, and has just listed for $15 million. To get to the home, the owner must wheel through an underground tunnel — […]
May Market Report
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April Market Report
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Prudden Company Featured in MSP Magazine — Style to Sell
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With price tags in the millions, Minneapolis tower’s condos are hot commodity
The developers of the 42-story Eleven on the River condo tower in downtown Minneapolis recently gathered to celebrate topping off what is now the tallest — and one of the most expensive — residential buildings in the city. On average, buyers will have to spend $1,000 per square foot — or $3 million per unit […]
You Had Me at Merlot
Welcome to (almost) spring everyone! The energy on the streets and in the air is indisputable. People are ready for living life again and we are almost there. A lot of surprising trends have emerged in full force, despite the absence of 2020, and I am not speaking of combat boots, at least not today, […]
March Market Report
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What’s Happening in the Housing Market
What a strange and interesting journey it has been over the previous 12 months. We have been exposed to a pandemic and through that stress test, it has shifted how we live, work, and function. It has been met with sadness and the loss of life, but it also has provided many with perspective on […]
February Market Report
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January Market Report
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2020 Market Review
There were numerous cross-currents that played out in the real estate sector nationwide during 2020 that led to a single conclusion, activity. We were hit with a pandemic in the spring, which historically kicks off the housing market. As we ascended into April, the world effectively was a standstill, and the real estate market felt this effect. Yet, […]
How to Prepare Your Home for the Market
Top Spaces Sellers Overlook When Preparing Their Home for Market Getting your home ready for market has never been easier than with our Prudden Concierge service. Preparing your home for market may sound daunting, but we’re here to help you get it done fast and looking fabulous. Here are a few of my tips for […]
Holiday Wine Pairing
Here we are, the end of 2020, and I hope there have been many positive takeaways from this odd year. My takeaways do not come in the form of how to clean my door knobs properly or what fabric is best for fashion masks. Rather, they come in the form of discoveries. Of life’s little […]
Home for the Holidays – 2020
If I’ve learned anything from this year it has been to treasure the little things in life – a phone call with a family member, mailing a hand-written note, or baking something you’ve never made before. Each one of these brings a sense of accomplishment and feeling of satisfaction – all simple acts, take little […]
Time is Ticking
Last week, Pfizer announced positive results on its pursuit of providing a Covid-19 vaccine, with 90% effectiveness, and this week, Moderna followed suit on its trial vaccine with 94% efficacy. With the government on the ready to purchase mass quantities and logistically disperse the drug, which should take roughly six months to roll out, life […]
Coming Out of a Crisis
As we witnessed financial markets cascade into the most significant correction since the Great Recession, nearly 30 Million Americans finding themselves out of work, and the economy locked down, we decided to pause our marketing. In a time of disbelief and discomfort felt by all, we felt it was appropriate. Since we began our brokerage […]
Real Money, Real Time
Good Morning, I have not yet used this platform to pen a personal opinion, but times are changing, and the environment in-which our firm operates (real estate) is evolving. Over the previous two weeks the tenor of the tape (stock market) has gone from gradual grind of all time highs to a swift 19% drop […]
With Super Bowl Rooms in Short Supply, Private Home Rentals Rise
The 2018 Super Bowl is still four months away, but Fred Yekaldo’s loft-style condo is just two short blocks from U.S. Bank Stadium, so he’s already hired a broker to help find someone to rent it. On Monday, his brick-and-timber condo will hit the market for $10,000 a night for the week before the Feb. […]
SUPERBOWL: Some of the Most Expensive Rentals
With the Super Bowl in Minneapolis, the players won’t be the only stars at the stadium. In the crowd of thousands are some heavy hitters of a different kind, football fans renting homes, not hotel rooms. “It’s a select demographic that’s pursuing these luxury homes,” said Jessica and Peter Prudden, whose firm, Prudden & Company, […]
With 10 Days to Go, Plenty of Rentals Still Available for Super Bowl Visitors
The last NFL playoff game was barely past halftime on Sunday when requests for Super Bowl-week rentals started rolling into Jessica and Peter Prudden’s Minneapolis real estate office. By Tuesday night, they inked more than 30 high-dollar deals, including two weeklong luxury house rentals for more than $200,000 each. They’ve burned through nearly half their […]
Jessica Prudden Took a Chance and Created Her Own Real Estate Marketing Company
Jessica Prudden was working away happily as a realtor and leasing representative for condo marketing behemoth FirstService Residential (FSR), a nationwide realty services company which handles a large swath of Twin Cities condos. She had already found her niche in real estate which allowed her to use her design interests as well. She then helped […]