Is Bloomington, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bloomington is a seller's market

Buyer's
Market

Difference Since January 2022

Since last year, Bloomington has remained a Seller's Market.

Key Takeaway

Bloomington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Bloomington, MN cost?

Median Sold Price

$350,000

$187/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$20,099(+6.1%)

Key Takeaway

Homes in Bloomington have sold for 6.1% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 $160K$175K
+9.4%
2 $230K$252K
+9.6%
3 $328K$347.5K
+6.0%
4 $380.2K$403.7K
+6.2%
5+ $469.1K$472.5K
+0.7%

Median Sold Price Compared To Nearby Cities

Savage
+9.6%
Bloomington
+6.1%
Burnsville
+4.3%
Richfield
+3.1%
Edina
0.5%

How many homes are available in Bloomington, MN?

Number of Homes For Sale

Dec 2022Jan 2023%
143120-16.1%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 13
+200.0%
2 4440
-9.1%
3 4642
-8.7%
4 4226
-38.1%
5+ 109
-10.0%

Number of Homes Sold

Dec 2022Jan 2023%
5836-37.9%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bloomington, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
37 Days47 Days+24.2%

Breakdown of Home Sale Times

12 Homes Were Sold
Under 30 Days

22 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Bloomington has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Bloomington, MN

Bloomington, MN has 120 homes on the market. The number of listings in Bloomington, MN decreased by 16.1% between December 2022 and January 2023. In January 2023 median list price was $350,000 and the average listing age was 47 days. Listing prices have changed in this real estate market between December 2022 and January 2023: prices of 1 bedroom properties went up by 9.4%, prices of 2 bedrooms properties went up by 9.6%, the cost of 3 bedrooms properties went up by 6%, prices of 4 bedrooms properties increased by 6.2%, prices of 5 bedrooms properties increased by 0.7%. The following changes in the number of homes for sale were observed in this housing market: number of 1 bedroom homes increased by 200%, 2 bedrooms homes inventory decreased by 9.1%, volume of 3 bedrooms homes went down by 8.7%, 4 bedrooms homes inventory decreased by 38.1%, 5 bedrooms homes inventory decreased by 10%. While more than 10 listings in Bloomington, MN in January 2023 were sold above asking price, there were more than 6 listings sold at asking price, and more than 20 were sold below.

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