Is Mendota Heights, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Mendota Heights has remained a Seller's Market.
Housing Prices in Mendota Heights, MN
How much do homes in Mendota Heights, MN cost?
Median Sold Price
$525,000
$200/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Mendota Heights was $525,000 in May 2024, up 5% from last year, and the median price per square foot was $200.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $274K | $525K | +91.6% |
2 Bedrooms | $347.5K | $269K | -22.6% |
3 Bedrooms | $507.5K | $477.5K | -5.9% |
4 Bedrooms | $575K | $672.5K | +17.0% |
5+ Bedrooms | $689K | $719.9K | +4.5% |
Summary: Mendota Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 91.6%, 2 bedroom homes decreased by 22.6%, 3 bedroom homes decreased by 5.9%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 4.5%.
Median Sold Price Compared To Nearby Cities
Mendota Heights | $500K | $525K | +5.0% |
Lilydale | $530K | $390K | -26.4% |
Housing Supply in Mendota Heights, MN
How many homes are available in Mendota Heights, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 56 | +24.4% |
Summary: The Mendota Heights real estate market had 56 homes for sale in May 2024, a 24.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 9 | 11 | +22.2% |
3 Bedrooms | 12 | 19 | +58.3% |
4 Bedrooms | 15 | 11 | -26.7% |
5+ Bedrooms | 8 | 14 | +75.0% |
Summary: The Mendota Heights housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 22.2%, 3 bedroom homes increased by 58.3%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 13 | +116.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 13 homes were sold or pending in Mendota Heights in May 2024, up by 116.7% month-over-month. Of the 13 sold homes, 38% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for Mendota Heights, MN
How long does it take to sell a home in Mendota Heights, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
20 Days | 35 Days | +71.9% |
Summary: Homes in Mendota Heights had an average of 35 days on market in May 2024, up by 71.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During May 2024, 13 homes were sold in Mendota Heights; 46% of homes were sold within 30 days, 46% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.