Is Edina, 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, Edina has remained a Seller's Market.
Key Takeaway
Edina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Edina, MN
How much do homes in Edina, MN cost?
Median Sold Price
$587,777
$250/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Edina have sold for 1.3% more than they did a year ago.
Summary: The median home sold price in Edina was $587,777 in March 2024, up 1.3% from last year, and the median price per square foot was $250.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $151K | +4.1% |
| 2 Bedrooms | $221.5K | $252.2K | +13.9% |
| 3 Bedrooms | $525K | $527.5K | 0.5% |
| 4 Bedrooms | $735K | $750K | +2.0% |
| 5+ Bedrooms | $1.1M | $1.4M | +20.8% |
Summary: Edina housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.1%, 2 bedroom homes increased by 13.9%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 20.8%.
Median Sold Price Compared To Nearby Cities
| Hopkins | $350.5K | $360.5K | +2.8% |
| Saint Louis Park | $364.9K | $375K | +2.7% |
| Bloomington | $350K | $358.8K | +2.5% |
| Richfield | $333.8K | $339.4K | +1.7% |
| Edina | $580K | $587.7K | +1.3% |
Housing Supply in Edina, MN
How many homes are available in Edina, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 243 | 290 | +19.3% |
Summary: The Edina real estate market had 290 homes for sale in March 2024, a 19.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 29 | +20.8% |
| 2 Bedrooms | 52 | 61 | +17.3% |
| 3 Bedrooms | 47 | 49 | +4.3% |
| 4 Bedrooms | 57 | 64 | +12.3% |
| 5+ Bedrooms | 63 | 87 | +38.1% |
Summary: The Edina housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20.8%, 2 bedroom homes increased by 17.3%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 12.3%, and 5+ bedroom homes increased by 38.1%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 64 | +56.1% |
Asking Price vs. Sold Price
30 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Edina, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Edina in March 2024, up by 56.1% month-over-month. Of the 64 sold homes, 47% were sold under asking, 20% were sold at asking, and 33% were sold over asking.
Days on Market for Edina, MN
How long does it take to sell a home in Edina, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 48 Days | 38 Days | -20.7% |
Summary: Homes in Edina had an average of 38 days on market in Mar 2024, down by 20.7% compared to last year.
Breakdown of Home Sale Times
42 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Edina are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 64 homes were sold in Edina; 66% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.
