$4,986 Closing Credit*
$419,900
2,450 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Compass
Is Bloomington, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
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.
Housing Prices in Bloomington, MN
How much do homes in Bloomington, MN cost?
Median Sold Price
$359,996
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$5,196(+1.5%)
Key Takeaway
Homes in Bloomington have sold for 1.5% more than they did a year ago.
Summary: The median home sold price in Bloomington was $359,996 in September 2024, up 1.5% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $160K | 0.0% |
| 2 Bedrooms | $255.6K | $265K | +3.7% |
| 3 Bedrooms | $350K | $355K | +1.4% |
| 4 Bedrooms | $415K | $413K | -0.5% |
| 5+ Bedrooms | $485K | $482.5K | -0.5% |
Summary: Bloomington housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Richfield | $330K | $349.9K | +6.0% |
| Edina | $586.9K | $613.3K | +4.5% |
| Burnsville | $355K | $369K | +3.9% |
| Savage | $412.7K | $421K | +2.0% |
| Bloomington | $354.8K | $359.9K | +1.5% |
Housing Supply in Bloomington, MN
How many homes are available in Bloomington, MN?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 259 | 303 | +17.0% |
Summary: The Bloomington real estate market had 303 homes for sale in September 2024, a 17.0% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 17 | +21.4% |
| 2 Bedrooms | 44 | 60 | +36.4% |
| 3 Bedrooms | 90 | 99 | +10.0% |
| 4 Bedrooms | 80 | 97 | +21.3% |
| 5+ Bedrooms | 31 | 30 | -3.2% |
Summary: The Bloomington housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 21.4%, 2 bedroom homes increased by 36.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 21.3%, and 5+ bedroom homes decreased by 3.2%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 81 | 70 | -13.6% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
23 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomington, you may be able to get a good deal. 34.3% of homes here sold below asking price last month.
Summary: A total of 70 homes were sold or pending in Bloomington in September 2024, down by 13.6% month-over-month. Of the 70 sold homes, 34% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Bloomington, MN
How long does it take to sell a home in Bloomington, MN?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 22 Days | 28 Days | +23.2% |
Summary: Homes in Bloomington had an average of 28 days on market in Sep 2024, up by 23.2% compared to last year.
Breakdown of Home Sale Times
45 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bloomington are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 70 homes were sold in Bloomington; 64% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
