Is Dakota County, 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, 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 in Dakota County, MN
How much do homes in Dakota County, MN cost?
Median Sold Price
$384,512
$188/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
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 $384,512 in March 2024, up 3.6% from last year, and the median price per square foot was $188.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $150K | 0.0% |
| 2 Bedrooms | $250K | $260K | +4.0% |
| 3 Bedrooms | $348.8K | $361.8K | +3.7% |
| 4 Bedrooms | $435.5K | $455K | +4.5% |
| 5+ Bedrooms | $568.1K | $559.8K | -1.5% |
Summary: Dakota County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 1.5%.
Median Sold Price Compared To Nearby Counties
| Rice County | $307.9K | $325.2K | +5.6% |
| Dakota County | $371K | $384.5K | +3.6% |
| Ramsey County | $309.7K | $315K | +1.7% |
| Scott County | $412.8K | $409.9K | -0.7% |
| Washington County | $414.8K | $410K | -1.2% |
Housing Supply in Dakota County, MN
How many homes are available in Dakota County, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1,421 | 1,603 | +12.8% |
Summary: The Dakota County real estate market had 1,603 homes for sale in March 2024, a 12.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 21 | +31.3% |
| 2 Bedrooms | 288 | 298 | +3.5% |
| 3 Bedrooms | 506 | 577 | +14.0% |
| 4 Bedrooms | 383 | 441 | +15.1% |
| 5+ Bedrooms | 228 | 266 | +16.7% |
Summary: The Dakota County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 31.3%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 14%, 4 bedroom homes increased by 15.1%, and 5+ bedroom homes increased by 16.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 333 | 383 | +15.0% |
Asking Price vs. Sold Price
143 Homes Were Sold
Under Asking
98 Homes Were Sold
At Asking
142 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dakota County, you may be able to get a good deal. 37.3% of homes here sold below asking price last month.
Summary: A total of 383 homes were sold or pending in Dakota County in March 2024, up by 15.0% month-over-month. Of the 383 sold homes, 37% were sold under asking, 26% were sold at asking, and 37% were sold over asking.
Days on Market for Dakota County, MN
How long does it take to sell a home in Dakota County, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 36 Days | 29 Days | -18.3% |
Summary: Homes in Dakota County had an average of 29 days on market in Mar 2024, down by 18.3% compared to last year.
Breakdown of Home Sale Times
274 Homes Were Sold
Under 30 Days
64 Homes Were Sold
In 30 - 90 Days
38 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 March 2024, 383 homes were sold in Dakota County; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
