Is Chanhassen, 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, Chanhassen has remained a Seller's Market.
Key Takeaway
Chanhassen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chanhassen, MN
How much do homes in Chanhassen, MN cost?
Median Sold Price
$508,625
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Chanhassen has remained the same since last year.
Summary: The median home sold price in Chanhassen was $508,625 in May 2024, down 0.3% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $243.8K | $185K | -24.1% |
| 2 Bedrooms | $280K | $285.1K | +1.8% |
| 3 Bedrooms | $416.2K | $419.9K | +0.9% |
| 4 Bedrooms | $575K | $605K | +5.2% |
| 5+ Bedrooms | $781.4K | $824.9K | +5.6% |
Summary: Chanhassen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.1%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 0.9%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 5.6%.
Median Sold Price Compared To Nearby Cities
| Chaska | $416.1K | $428.1K | +2.9% |
| Eden Prairie | $460K | $459.9K | 0% |
| Chanhassen | $509.9K | $508.6K | -0.3% |
| Victoria | $618K | $585.5K | -5.3% |
| Shorewood | $720K | $672K | -6.7% |
Housing Supply in Chanhassen, MN
How many homes are available in Chanhassen, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 109 | 124 | +13.8% |
Summary: The Chanhassen real estate market had 124 homes for sale in May 2024, a 13.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 14 | 18 | +28.6% |
| 3 Bedrooms | 33 | 34 | +3.0% |
| 4 Bedrooms | 17 | 26 | +52.9% |
| 5+ Bedrooms | 43 | 43 | 0.0% |
Summary: The Chanhassen housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 3%, 4 bedroom homes increased by 52.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 33 | +26.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chanhassen, you could pay more than the asking price. 51.5% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Chanhassen in May 2024, up by 26.9% month-over-month. Of the 33 sold homes, 24% were sold under asking, 24% were sold at asking, and 52% were sold over asking.
Days on Market for Chanhassen, MN
How long does it take to sell a home in Chanhassen, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 15 Days | 11 Days | -27.1% |
Summary: Homes in Chanhassen had an average of 11 days on market in May 2024, down by 27.1% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Chanhassen are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in Chanhassen; 94% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
