Is Hennepin County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Hennepin County has remained a Seller's Market.
Housing Prices in Hennepin County, MN
How much do homes in Hennepin County, MN cost?
Median Sold Price
$373,628
$204/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Summary: The median home sold price in Hennepin County was $373,628 in November 2023, up 2.2% from last year, and the median price per square foot was $204.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | $173.2K | $170.2K | -1.7% |
2 Bedrooms | $269.9K | $274.3K | +1.6% |
3 Bedrooms | $353K | $359.9K | +2.0% |
4 Bedrooms | $450.4K | $467.5K | +3.8% |
5+ Bedrooms | $674.5K | $712.9K | +5.7% |
Summary: Hennepin County housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes decreased by 1.7%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 5.7%.
Median Sold Price Compared To Nearby Counties
Wright County | $360.2K | $374.4K | +3.9% |
Hennepin County | $365.7K | $373.6K | +2.2% |
Anoka County | $342.5K | $349.9K | +2.2% |
Ramsey County | $306K | $309.7K | +1.2% |
Carver County | $442.6K | $432.6K | -2.3% |
Housing Supply in Hennepin County, MN
How many homes are available in Hennepin County, MN?
Number of Homes For Sale
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
4,819 | 4,634 | -3.8% |
Summary: The Hennepin County real estate market had 4,634 homes for sale in November 2023, a 3.8% decrease compared to October 2023.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
---|---|---|---|
1 Bedroom | 278 | 284 | +2.2% |
2 Bedrooms | 997 | 942 | -5.5% |
3 Bedrooms | 1,628 | 1,543 | -5.2% |
4 Bedrooms | 1,241 | 1,216 | -2.0% |
5+ Bedrooms | 675 | 649 | -3.9% |
Summary: The Hennepin County housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 2.2%, 2 bedroom homes decreased by 5.5%, 3 bedroom homes decreased by 5.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes decreased by 3.9%.
Number of Homes Sold
Oct 2023 | Nov 2023 | CHANGE |
---|---|---|
1,294 | 1,005 | -22.3% |
Asking Price vs. Sold Price
470 Homes Were Sold
Under Asking
231 Homes Were Sold
At Asking
300 Homes Were Sold
Over Asking
Summary: A total of 1,005 homes were sold or pending in Hennepin County in November 2023, down by 22.3% month-over-month. Of the 1,001 sold homes, 47% were sold under asking, 23% were sold at asking, and 30% were sold over asking.
Days on Market for Hennepin County, MN
How long does it take to sell a home in Hennepin County, MN?
Average Sale Time
Nov 2022 | Nov 2023 | CHANGE |
---|---|---|
33 Days | 31 Days | -8.3% |
Summary: Homes in Hennepin County had an average of 31 days on market in Nov 2023, down by 8.3% compared to last year.
Breakdown of Home Sale Times
628 Homes Were Sold
Under 30 Days
310 Homes Were Sold
In 30 - 90 Days
49 Homes Were Sold
Over 90 Days
Summary: During November 2023, 1005 homes were sold in Hennepin County; 62% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.