Is Hennepin County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hennepin County is a seller's market

Buyer's
Market

Difference Since April 2021

Since last year, Hennepin County has remained a Seller's Market.

Key Takeaway

Hennepin County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Hennepin County, MN cost?

Median Sold Price

$355,045

$196/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2021

+$24,552(+7.4%)

Key Takeaway

Homes in Hennepin County have sold for 7.4% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSApr 2021Apr 2022%
1 $165K$169.8K
+3.0%
2 $245.2K$260K
+6.0%
3 $316.7K$342.2K
+8.0%
4 $402.8K$439.6K
+9.1%
5+ $590.3K$670.1K
+13.5%

Median Sold Price Compared To Nearby Counties

Carver County
+15.9%
Wright County
+14.7%
Anoka County
+13.8%
Ramsey County
+11.7%
Hennepin County
+7.4%

How many homes are available in Hennepin County, MN?

Number of Homes For Sale

Mar 2022Apr 2022%
4,9165,675+15.4%

Homes For Sale By Bedroom Count

# BEDSMar 2022Apr 2022%
1 334380
+13.8%
2 1,0881,220
+12.1%
3 1,5521,746
+12.5%
4 1,2591,490
+18.3%
5+ 683839
+22.8%

Number of Homes Sold

Mar 2022Apr 2022%
1,3481,548+14.8%

Asking Price vs. Sold Price

256 Homes Were Sold
Under Asking

305 Homes Were Sold
At Asking

987 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hennepin County, you could pay more than the asking price. 63.8% of homes here sold above asking price last month.

Average Sale Time

Apr 2021Apr 2022%
22 Days18 Days-15.1%

Breakdown of Home Sale Times

1,317 Homes Were Sold
Under 30 Days

152 Homes Were Sold
In 30 - 90 Days

77 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hennepin County 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 Hennepin County, MN

Hennepin County, MN has 5,675 homes for sale to choose from. Between March 2022 and April 2022, Hennepin County, MN real estate market has seen increase in the number of listings by 15.4%. In April 2022 median list price was $355,045 and the average listing age was 18 days. Listing prices have changed in this real estate market between March 2022 and April 2022: prices of 1 bedroom properties increased by 3%, the cost of 2 bedrooms properties went up by 6%, the cost of 3 bedrooms properties went up by 8%, prices of 4 bedrooms properties went up by 9.1%, the cost of 5 bedrooms properties went up by 13.5%. This housing market inventory have changed: the quantity of 1 bedroom homes went up by 13.8%, the quantity of 2 bedrooms homes went up by 12.1%, number of 3 bedrooms homes increased by 12.5%, volume of 4 bedrooms homes went up by 18.3%, 5 bedrooms homes became 22.8% more available. In April 2022 more than 987 listings in Hennepin County, MN were sold above the asking price. During the same period more than 305 listings were sold at asking price, while more than 256 were sold below.

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