We pick up here where we left off, with the second part of our new series: Lessons from the RREAR, where we dig deeper into the data found in our Annual Residential Real Estate Activity Report.
Today's subject: Square Footage.
Despite a consistent decline in the number of residents per household each year thanks to an aging population and relatively lower birth rates, the average square footage of Twin Cities homes continued its inexorable rise upwards in 2007. As newer, larger homes are added to the pipeline and existing homes are refurbished and expanded over time, the overall size of our homes gradually increases, seemingly into infinity.
This is either fantastic or horrible news, depending on whether or not you're generally in favor of second amusement rooms in the basement for antique billiard tables and pinball machines.
Entirely-too-subtle jabs at suburban consumerism aside, what this all means is that every year we seem to have more square footage per person than ever before. So relax and truly enjoy that extra beanbag chair or Barcalounger with no shame.
Below are the Top 20 areas in the Twin Cities for Average Finished Square Footage for closed sales in 2007. This is where you can really sterch out into that 7th bedroom. Not coincidentally, some of these are also the higher-priced communities in the region:
| Code | Area | Avg. Sq. Footage |
| 605 | Sunfish Lake | 5,120 |
| 368 | Hennepin-Northwest | 2,929 |
| 398 | Victoria | 2,927 |
| 381 | Lake Minnetonka | 2,733 |
| 604 | Mendota/Lilydale/Mendota Heights | 2,595 |
| 392 | Eden Prairie | 2,569 |
| 396 | Chanhassen | 2,541 |
| 707 | Ham Lake | 2,519 |
| 642 | Prior Lake | 2,413 |
| 385 | Edina | 2,389 |
| 626 | Lakeville | 2,318 |
| 367 | Hennepin-North | 2,317 |
| 762 | Andover | 2,301 |
| 727 | Stillwater/Bayport | 2,288 |
| 365 | Maple Grove/Osseo | 2,283 |
| 644 | Savage | 2,244 |
| 374 | Plymouth | 2,234 |
| 726 | Woodbury | 2,216 |
| 721 | Lakeland/Afton/Denmark | 2,206 |
| 706 | North Central Suburban | 2,198 |
And here are the Bottom 20 areas. Not surprisingly, you'll notice regions here that either a) have a high preponderance of condominiums and/or b) have a relatively older housing stock and/or c) are located in the two center cities or first-ring suburbs.
| Code | Area | Avg. Sq. Footage |
| 741 | SP – Downtown/Capital Heights | 1,089 |
| 302 | Mpls – Central | 1,307 |
| 308 | Mpls – Powderhorn | 1,310 |
| 742 | SP – Central | 1,322 |
| 310 | Mpls – University | 1,333 |
| 307 | Mpls – Phillips | 1,347 |
| 301 | Mpls – Camden | 1,351 |
| 303 | Mpls – Longfellow | 1,360 |
| 738 | SP – Home Croft/W 7Th | 1,377 |
| 306 | Mpls – Northeast | 1,386 |
| 746 | SP – St. Anthony/Midway | 1,421 |
| 716 | SP – Hillcrest/Hazel Park/Daytons Bluff | 1,430 |
| 728 | SP – Riverview/Cherokee | 1,442 |
| 386 | Hopkins | 1,457 |
| 379 | Bloomington-East | 1,462 |
| 305 | Mpls – North | 1,469 |
| 714 | SP – Phalen | 1,504 |
| 304 | Mpls – Nokomis | 1,514 |
| 600 | West St. Paul | 1,516 |
For a look at the geographic boundaries of these MLS areas, visit here. And stay tuned in the weeks ahead for more Lessons from the RREAR.
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