Is Hennepin County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
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
$375,286
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Hennepin County was $375,286 in April 2024, up 1.7% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $170.1K | 0.1% |
2 Bedrooms | $269.9K | $275.4K | +2.0% |
3 Bedrooms | $354.2K | $362.4K | +2.3% |
4 Bedrooms | $454.7K | $470.8K | +3.6% |
5+ Bedrooms | $690.7K | $706.7K | +2.3% |
Summary: Hennepin County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 0.1%, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 2.3%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Counties
Wright County | $363.6K | $375.7K | +3.3% |
Ramsey County | $309.4K | $315.7K | +2.0% |
Hennepin County | $368.9K | $375.2K | +1.7% |
Anoka County | $345.1K | $350K | +1.4% |
Carver County | $433.2K | $435.1K | 0.4% |
Housing Supply in Hennepin County, MN
How many homes are available in Hennepin County, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
4,516 | 5,402 | +19.6% |
Summary: The Hennepin County real estate market had 5,402 homes for sale in April 2024, a 19.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 304 | 372 | +22.4% |
2 Bedrooms | 943 | 1,067 | +13.1% |
3 Bedrooms | 1,420 | 1,684 | +18.6% |
4 Bedrooms | 1,147 | 1,384 | +20.7% |
5+ Bedrooms | 702 | 895 | +27.5% |
Summary: The Hennepin County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 22.4%, 2 bedroom homes increased by 13.1%, 3 bedroom homes increased by 18.6%, 4 bedroom homes increased by 20.7%, and 5+ bedroom homes increased by 27.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,109 | 1,292 | +16.5% |
Asking Price vs. Sold Price
450 Homes Were Sold
Under Asking
273 Homes Were Sold
At Asking
568 Homes Were Sold
Over Asking
Summary: A total of 1,292 homes were sold or pending in Hennepin County in April 2024, up by 16.5% month-over-month. Of the 1,291 sold homes, 35% were sold under asking, 21% were sold at asking, and 44% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
33 Days | 29 Days | -11.8% |
Summary: Homes in Hennepin County had an average of 29 days on market in Apr 2024, down by 11.8% compared to last year.
Breakdown of Home Sale Times
928 Homes Were Sold
Under 30 Days
251 Homes Were Sold
In 30 - 90 Days
105 Homes Were Sold
Over 90 Days
Summary: During April 2024, 1292 homes were sold in Hennepin County; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.