Is Chanhassen, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Chanhassen has remained a Seller's Market.
Key Takeaway
Chanhassen is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chanhassen, MN
How much do homes in Chanhassen, MN cost?
Median Sold Price
$522,500
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Chanhassen have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Chanhassen was $522,500 in March 2024, up 4.7% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $243.8K | $185K | -24.1% |
| 2 Bedrooms | $281.5K | $282.5K | 0.4% |
| 3 Bedrooms | $403K | $425K | +5.5% |
| 4 Bedrooms | $580K | $605K | +4.3% |
| 5+ Bedrooms | $820K | $824.9K | +0.6% |
Summary: Chanhassen housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.1%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes increased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Shorewood | $700K | $749K | +7.0% |
| Chanhassen | $499K | $522.5K | +4.7% |
| Chaska | $415.1K | $431.8K | +4.0% |
| Eden Prairie | $459.5K | $459.9K | 0.1% |
| Victoria | $618K | $585.5K | -5.3% |
Housing Supply in Chanhassen, MN
How many homes are available in Chanhassen, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 81 | 84 | +3.7% |
Summary: The Chanhassen real estate market had 84 homes for sale in March 2024, a 3.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 10 | -16.7% |
| 3 Bedrooms | 19 | 21 | +10.5% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 35 | 35 | 0.0% |
Summary: The Chanhassen housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 22 | -4.3% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chanhassen, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Chanhassen in March 2024, down by 4.3% month-over-month. Of the 22 sold homes, 45% were sold under asking, 23% were sold at asking, and 32% were sold over asking.
Days on Market for Chanhassen, MN
How long does it take to sell a home in Chanhassen, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 40 Days | 37 Days | -7.3% |
Summary: Homes in Chanhassen had an average of 37 days on market in Mar 2024, down by 7.3% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chanhassen are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Chanhassen; 68% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
