Is Inver Grove Heights, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Inver Grove Heights has remained a Seller's Market.
Housing Prices in Inver Grove Heights, MN
How much do homes in Inver Grove Heights, MN cost?
Median Sold Price
$371,495
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Inver Grove Heights was $371,495 in April 2024, up 12.6% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $177.6K | N/A |
2 Bedrooms | $253K | $259.4K | +2.5% |
3 Bedrooms | $349.5K | $335.8K | -3.9% |
4 Bedrooms | $420K | $474.9K | +13.1% |
5+ Bedrooms | $725K | $659K | -9.1% |
Summary: Inver Grove Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.5%, 3 bedroom homes decreased by 3.9%, 4 bedroom homes increased by 13.1%, and 5+ bedroom homes decreased by 9.1%.
Median Sold Price Compared To Nearby Cities
Inver Grove Heights | $330K | $371.4K | +12.6% |
Saint Paul Park | $299.1K | $318K | +6.3% |
South Saint Paul | $280K | $285K | +1.8% |
Newport | $350K | $351.4K | 0.4% |
Housing Supply in Inver Grove Heights, MN
How many homes are available in Inver Grove Heights, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
118 | 141 | +19.5% |
Summary: The Inver Grove Heights real estate market had 141 homes for sale in April 2024, a 19.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 31 | 37 | +19.4% |
3 Bedrooms | 34 | 42 | +23.5% |
4 Bedrooms | 33 | 35 | +6.1% |
5+ Bedrooms | 20 | 27 | +35.0% |
Summary: The Inver Grove Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 19.4%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 35%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
26 | 27 | +3.8% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 27 homes were sold or pending in Inver Grove Heights in April 2024, up by 3.8% month-over-month. Of the 27 sold homes, 52% were sold under asking, 19% were sold at asking, and 30% were sold over asking.
Days on Market for Inver Grove Heights, MN
How long does it take to sell a home in Inver Grove Heights, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 45 Days | +80.8% |
Summary: Homes in Inver Grove Heights had an average of 45 days on market in Apr 2024, up by 80.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 27 homes were sold in Inver Grove Heights; 59% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.