Is Shakopee, 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, Shakopee has remained a Seller's Market.
Key Takeaway
Shakopee is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shakopee, MN
How much do homes in Shakopee, MN cost?
Median Sold Price
$394,950
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Shakopee have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Shakopee was $394,950 in April 2024, up 8.1% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $199K | $159K | -20.1% |
| 2 Bedrooms | $259.9K | $258.5K | -0.5% |
| 3 Bedrooms | $320K | $350K | +9.4% |
| 4 Bedrooms | $450K | $471.6K | +4.8% |
| 5+ Bedrooms | $550K | $604.2K | +9.9% |
Summary: Shakopee housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.1%, 2 bedroom homes decreased by 0.5%, 3 bedroom homes increased by 9.4%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 9.9%.
Median Sold Price Compared To Nearby Cities
| Shakopee | $365.3K | $394.9K | +8.1% |
| Prior Lake | $487.5K | $494.9K | +1.5% |
| Eden Prairie | $458.1K | $459.8K | 0.4% |
| Jackson Township | $472.3K | $171.9K | -63.6% |
Housing Supply in Shakopee, MN
How many homes are available in Shakopee, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 179 | 221 | +23.5% |
Summary: The Shakopee real estate market had 221 homes for sale in April 2024, a 23.5% 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 | 20 | 33 | +65.0% |
| 3 Bedrooms | 65 | 78 | +20.0% |
| 4 Bedrooms | 55 | 75 | +36.4% |
| 5+ Bedrooms | 39 | 35 | -10.3% |
Summary: The Shakopee 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 65%, 3 bedroom homes increased by 20%, 4 bedroom homes increased by 36.4%, and 5+ bedroom homes decreased by 10.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 50 | 51 | +2.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shakopee, you could pay more than the asking price. 41.2% of homes here sold above asking price last month.
Summary: A total of 51 homes were sold or pending in Shakopee in April 2024, up by 2.0% month-over-month. Of the 51 sold homes, 37% were sold under asking, 22% were sold at asking, and 41% were sold over asking.
Days on Market for Shakopee, MN
How long does it take to sell a home in Shakopee, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 23 Days | 19 Days | -18.6% |
Summary: Homes in Shakopee had an average of 19 days on market in Apr 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
44 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Shakopee are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 51 homes were sold in Shakopee; 86% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
