Is Burnsville, 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, Burnsville has remained a Seller's Market.
Key Takeaway
Burnsville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Burnsville, MN
How much do homes in Burnsville, MN cost?
Median Sold Price
$365,000
$177/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Burnsville have sold for 4.3% more than they did a year ago.
Summary: The median home sold price in Burnsville was $365,000 in April 2024, up 4.3% from last year, and the median price per square foot was $177.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99K | $94.7K | -4.3% |
| 2 Bedrooms | $235K | $249.9K | +6.4% |
| 3 Bedrooms | $350K | $362.5K | +3.6% |
| 4 Bedrooms | $400K | $410K | +2.5% |
| 5+ Bedrooms | $425K | $445K | +4.7% |
Summary: Burnsville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.3%, 2 bedroom homes increased by 6.4%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 4.7%.
Median Sold Price Compared To Nearby Cities
| Apple Valley | $350K | $365.8K | +4.5% |
| Burnsville | $350K | $365K | +4.3% |
| Lakeville | $465.6K | $485K | +4.2% |
| Bloomington | $349.9K | $359.5K | +2.7% |
| Eagan | $370.4K | $380.3K | +2.7% |
Housing Supply in Burnsville, MN
How many homes are available in Burnsville, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 163 | 197 | +20.9% |
Summary: The Burnsville real estate market had 197 homes for sale in April 2024, a 20.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 10 | +100.0% |
| 2 Bedrooms | 37 | 53 | +43.2% |
| 3 Bedrooms | 64 | 69 | +7.8% |
| 4 Bedrooms | 43 | 47 | +9.3% |
| 5+ Bedrooms | 14 | 18 | +28.6% |
Summary: The Burnsville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 43.2%, 3 bedroom homes increased by 7.8%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 61 | +17.3% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Burnsville, you could pay more than the asking price. 49.2% of homes here sold above asking price last month.
Summary: A total of 61 homes were sold or pending in Burnsville in April 2024, up by 17.3% month-over-month. Of the 61 sold homes, 21% were sold under asking, 30% were sold at asking, and 49% were sold over asking.
Days on Market for Burnsville, MN
How long does it take to sell a home in Burnsville, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 20 Days | 23 Days | +14.1% |
Summary: Homes in Burnsville had an average of 23 days on market in Apr 2024, up by 14.1% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Burnsville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 61 homes were sold in Burnsville; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
