Is Bloomington, 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, Bloomington has remained a Seller's Market.
Housing Prices in Bloomington, MN
How much do homes in Bloomington, MN cost?
Median Sold Price
$359,541
$190/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Bloomington was $359,541 in April 2024, up 2.7% from last year, and the median price per square foot was $190.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $179.9K | $170.5K | -5.2% |
2 Bedrooms | $250K | $275K | +10.0% |
3 Bedrooms | $347.2K | $355K | +2.2% |
4 Bedrooms | $403.7K | $415K | +2.8% |
5+ Bedrooms | $455K | $504K | +10.8% |
Summary: Bloomington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.2%, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 2.8%, and 5+ bedroom homes increased by 10.8%.
Median Sold Price Compared To Nearby Cities
Burnsville | $350K | $365K | +4.3% |
Richfield | $330K | $340K | +3.0% |
Bloomington | $349.9K | $359.5K | +2.7% |
Edina | $583.1K | $580K | -0.5% |
Savage | $427.4K | $415K | -2.9% |
Housing Supply in Bloomington, MN
How many homes are available in Bloomington, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
213 | 234 | +9.9% |
Summary: The Bloomington real estate market had 234 homes for sale in April 2024, a 9.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 11 | 16 | +45.5% |
2 Bedrooms | 61 | 52 | -14.8% |
3 Bedrooms | 78 | 85 | +9.0% |
4 Bedrooms | 53 | 64 | +20.8% |
5+ Bedrooms | 10 | 17 | +70.0% |
Summary: The Bloomington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 45.5%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 20.8%, and 5+ bedroom homes increased by 70%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
65 | 78 | +20.0% |
Asking Price vs. Sold Price
28 Homes Were Sold
Under Asking
20 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Summary: A total of 78 homes were sold or pending in Bloomington in April 2024, up by 20.0% month-over-month. Of the 78 sold homes, 36% were sold under asking, 26% were sold at asking, and 38% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
29 Days | 24 Days | -18.1% |
Summary: Homes in Bloomington had an average of 24 days on market in Apr 2024, down by 18.1% compared to last year.
Breakdown of Home Sale Times
64 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 78 homes were sold in Bloomington; 82% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.