$450,000
Land
Listing Office: RE/MAX Results
Is Hopkins, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Hopkins has remained a Seller's Market.
Key Takeaway
Hopkins is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hopkins, MN
How much do homes in Hopkins, MN cost?
Median Sold Price
$383,607
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$28,903(+8.1%)
Key Takeaway
Homes in Hopkins have sold for 8.1% more than they did a year ago.
Summary: The median home sold price in Hopkins was $383,607 in September 2024, up 8.1% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $152.4K | $134.2K | -11.9% |
| 2 Bedrooms | $241.5K | $269.7K | +11.7% |
| 3 Bedrooms | $384.9K | $450K | +16.9% |
| 4 Bedrooms | $499.9K | $552.5K | +10.5% |
| 5+ Bedrooms | $842.5K | $657.5K | -22.0% |
Summary: Hopkins housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.9%, 2 bedroom homes increased by 11.7%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 22%.
Median Sold Price Compared To Nearby Cities
| Minnetonka | $445K | $488K | +9.7% |
| Hopkins | $354.7K | $383.6K | +8.1% |
| Edina | $586.9K | $613.3K | +4.5% |
| Saint Louis Park | $375K | $368.8K | -1.6% |
Housing Supply in Hopkins, MN
How many homes are available in Hopkins, MN?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 187 | 207 | +10.7% |
Summary: The Hopkins real estate market had 207 homes for sale in September 2024, a 10.7% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 25 | +4.2% |
| 2 Bedrooms | 56 | 69 | +23.2% |
| 3 Bedrooms | 46 | 58 | +26.1% |
| 4 Bedrooms | 40 | 34 | -15.0% |
| 5+ Bedrooms | 21 | 21 | 0.0% |
Summary: The Hopkins housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 23.2%, 3 bedroom homes increased by 26.1%, 4 bedroom homes decreased by 15%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 52 | 49 | -5.8% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
15 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopkins, you may be able to get a good deal. 38.8% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in Hopkins in September 2024, down by 5.8% month-over-month. Of the 49 sold homes, 39% were sold under asking, 31% were sold at asking, and 31% were sold over asking.
Days on Market for Hopkins, MN
How long does it take to sell a home in Hopkins, MN?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 28 Days | 24 Days | -15.8% |
Summary: Homes in Hopkins had an average of 24 days on market in Sep 2024, down by 15.8% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hopkins are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 49 homes were sold in Hopkins; 63% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
