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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Edina is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Edina was a Seller's Market.

Key Takeaway

Edina is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Edina, MN

How much do homes in Edina, MN cost?

Median Sold Price

$613,368

$255/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$26,460(+4.5%)

Key Takeaway

Homes in Edina have sold for 4.5% more than they did a year ago.

Summary: The median home sold price in Edina was $613,368 in September 2024, up 4.5% from last year, and the median price per square foot was $255.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $146.9K$152K
+3.5%
2 $242K$250K
+3.3%
3 $530K$545K
+2.8%
4 $730K$750K
+2.7%
5+ $1.3M$1.2M
-6.2%

Summary: Edina housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.5%, 2 bedroom homes increased by 3.3%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes decreased by 6.2%.

Median Sold Price Compared To Nearby Cities

Hopkins
+8.1%
Richfield
+6.0%
Edina
+4.5%
Bloomington
+1.5%
Saint Louis Park
-1.6%

Housing Supply in Edina, MN

How many homes are available in Edina, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
299326+9.0%

Summary: The Edina real estate market had 326 homes for sale in September 2024, a 9.0% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 2525
0.0%
2 6977
+11.6%
3 5254
+3.8%
4 7082
+17.1%
5+ 8388
+6.0%

Summary: The Edina housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 11.6%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 17.1%, and 5+ bedroom homes increased by 6%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
8047-41.3%

Asking Price vs. Sold Price

26 Homes Were Sold
Under Asking

8 Homes Were Sold
At Asking

13 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. 55.3% of homes here sold below asking price last month.

Summary: A total of 47 homes were sold or pending in Edina in September 2024, down by 41.3% month-over-month. Of the 47 sold homes, 55% were sold under asking, 17% were sold at asking, and 28% 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

Sep 2023Sep 2024CHANGE
31 Days29 Days-7.1%

Summary: Homes in Edina had an average of 29 days on market in Sep 2024, down by 7.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

2 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.

Summary: During September 2024, 47 homes were sold in Edina; 62% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.

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

Report Updated 11 Days Ago

Newest Listings in Edina, MN

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