Is North Oaks, 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, North Oaks has remained a Buyer's Market.
Key Takeaway
North Oaks is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Oaks, MN
How much do homes in North Oaks, MN cost?
Median Sold Price
$836,052
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Oaks have sold for 12% less than they did a year ago.
Summary: The median home sold price in North Oaks was $836,052 in May 2024, down 12% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $655.5K | $921.8K | +40.6% |
| 3 Bedrooms | $840K | $835K | -0.6% |
| 4 Bedrooms | $865K | $815K | -5.8% |
| 5+ Bedrooms | $1.1M | $878.5K | -25.2% |
Summary: North Oaks housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40.6%, 3 bedroom homes decreased by 0.6%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes decreased by 25.2%.
Median Sold Price Compared To Nearby Cities
| Lino Lakes | $419.9K | $425K | +1.2% |
| Shoreview | $372.4K | $372.3K | 0% |
| White Bear Township | $393.5K | $390K | -0.9% |
| North Oaks | $950K | $836K | -12.0% |
Housing Supply in North Oaks, MN
How many homes are available in North Oaks, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 63 | +12.5% |
Summary: The North Oaks real estate market had 63 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 19 | 24 | +26.3% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The North Oaks 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 42.9%, 3 bedroom homes increased by 26.3%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Oaks, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in North Oaks in May 2024, down by 22.2% month-over-month. Of the 7 sold homes, 57% were sold under asking, 0% were sold at asking, and 43% were sold over asking.
Days on Market for North Oaks, MN
How long does it take to sell a home in North Oaks, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 108 Days | +472.8% |
Summary: Homes in North Oaks had an average of 108 days on market in May 2024, up by 472.8% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in North Oaks are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in North Oaks; 43% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
