Is Edina, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Edina is a seller's market

Buyer's
Market

Difference Since December 2021

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.

How much do homes in Edina, MN cost?

Median Sold Price

$580,527

$237/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$9,102(+1.6%)

Key Takeaway

Homes in Edina have sold for 1.6% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $135K$140K
+3.7%
2 $235K$224.2K
-4.6%
3 $475K$519.5K
+9.4%
4 $711K$750K
+5.5%
5+ $1.2M$1.1M
-1.1%

Median Sold Price Compared To Nearby Cities

Hopkins
+7.9%
Bloomington
+7.7%
Saint Louis Park
+5.4%
Richfield
+3.1%
Edina
+1.6%

How many homes are available in Edina, MN?

Number of Homes For Sale

Nov 2022Dec 2022%
204179-12.3%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 1413
-7.1%
2 5549
-10.9%
3 3328
-15.2%
4 3730
-18.9%
5+ 6559
-9.2%

Number of Homes Sold

Nov 2022Dec 2022%
4342-2.3%

Asking Price vs. Sold Price

31 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Edina, you may be able to get a good deal. 73.8% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
35 Days45 Days+28.5%

Breakdown of Home Sale Times

21 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Edina are selling fast, if you're buying plan to act quickly.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Edina, MN

Homes for sale in Edina, MN have reached 179. The inventory of homes for sale in Edina, MN between November 2022 and December 2022 decreased by 12.3%. While the average time on the market in December 2022 was 45 days, the median list price was $580,527. Real estate listing prices changed between November 2022 and December 2022: prices of 1 bedroom properties increased by 3.7%, the cost of 2 bedrooms properties went down by 4.6%, prices of 3 bedrooms properties went up by 9.4%, prices of 4 bedrooms properties went up by 5.5%, prices of 5 bedrooms properties went down by 1.1%. This housing market inventory have changed: volume of 1 bedroom homes went down by 7.1%, 2 bedrooms homes inventory decreased by 10.9%, volume of 3 bedrooms homes went down by 15.2%, 4 bedrooms homes became 18.9% less available, 5 bedrooms homes became 9.2% less available. While more than 4 listings in Edina, MN in December 2022 were sold above asking price, there were more than 7 listings sold at asking price, and more than 31 were sold below.

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