Is Dakota County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Dakota County has remained a Seller's Market.
Key Takeaway
Dakota County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Dakota County, MN cost?
Median Sold Price
$374,180
$184/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Dakota County have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Dakota County was $374,180 in August 2023, up 3.6% from last year, and the median price per square foot was $184.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $137.5K | $150K | +9.1% |
| 2 Bedrooms | $243.7K | $252.6K | +3.7% |
| 3 Bedrooms | $332.7K | $354.8K | +6.6% |
| 4 Bedrooms | $430.9K | $438.1K | +1.7% |
| 5+ Bedrooms | $546.5K | $560K | +2.5% |
Summary: Dakota County housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 2.5%.
Median Sold Price Compared To Nearby Counties
| Dakota County | $361K | $374.1K | +3.6% |
| Rice County | $304.4K | $315K | +3.5% |
| Scott County | $398K | $408.4K | +2.6% |
| Washington County | $400.2K | $408.4K | +2.0% |
| Ramsey County | $304.4K | $305.3K | 0.3% |
Housing Supply
How many homes are available in Dakota County, MN?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 1,863 | 1,954 | +4.9% |
Summary: The Dakota County real estate market had 1,954 homes for sale in August 2023, a 4.9% increase compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 21 | -12.5% |
| 2 Bedrooms | 313 | 344 | +9.9% |
| 3 Bedrooms | 610 | 622 | +2.0% |
| 4 Bedrooms | 593 | 637 | +7.4% |
| 5+ Bedrooms | 323 | 330 | +2.2% |
Summary: The Dakota County housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 12.5%, 2 bedroom homes increased by 9.9%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 2.2%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 559 | 550 | -1.6% |
Asking Price vs. Sold Price
150 Homes Were Sold
Under Asking
111 Homes Were Sold
At Asking
288 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dakota County, you could pay more than the asking price. 52.5% of homes here sold above asking price last month.
Summary: A total of 550 homes were sold or pending in Dakota County in August 2023, down by 1.6% month-over-month. Of the 549 sold homes, 27% were sold under asking, 20% were sold at asking, and 52% were sold over asking.
Days on Market
How long does it take to sell a home in Dakota County, MN?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 19 Days | 23 Days | +21.0% |
Summary: Homes in Dakota County had an average of 23 days on market in Aug 2023, up by 21% compared to last year.
Breakdown of Home Sale Times
411 Homes Were Sold
Under 30 Days
106 Homes Were Sold
In 30 - 90 Days
21 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dakota County are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 550 homes were sold in Dakota County; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
Listings courtesy of NorthStar of Minnesota / Regional Multiple Listing Service of Minnesota Inc. as distributed by MLS GRID.