Is Hopkins, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$360,500
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hopkins have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in Hopkins was $360,500 in March 2024, up 2.8% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $153K | $149.9K | -2.0% |
| 2 Bedrooms | $255K | $255K | 0.0% |
| 3 Bedrooms | $375K | $396.5K | +5.7% |
| 4 Bedrooms | $511K | $537.8K | +5.3% |
| 5+ Bedrooms | $840K | $705K | -16.1% |
Summary: Hopkins housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2%, 2 bedroom homes did not change, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 16.1%.
Median Sold Price Compared To Nearby Cities
| Hopkins | $350.5K | $360.5K | +2.8% |
| Saint Louis Park | $364.9K | $375K | +2.7% |
| Minnetonka | $457.7K | $465.2K | +1.6% |
| Edina | $580K | $587.7K | +1.3% |
Housing Supply in Hopkins, MN
How many homes are available in Hopkins, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 146 | 147 | +0.7% |
Summary: The Hopkins real estate market had 147 homes for sale in March 2024, a 0.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 23 | 23 | 0.0% |
| 2 Bedrooms | 42 | 45 | +7.1% |
| 3 Bedrooms | 41 | 41 | 0.0% |
| 4 Bedrooms | 19 | 15 | -21.1% |
| 5+ Bedrooms | 21 | 23 | +9.5% |
Summary: The Hopkins housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.1%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 21.1%, and 5+ bedroom homes increased by 9.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 39 | 33 | -15.4% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopkins, you may be able to get a good deal. 39.4% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Hopkins in March 2024, down by 15.4% month-over-month. Of the 33 sold homes, 39% were sold under asking, 27% were sold at asking, and 33% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 31 Days | 39 Days | +24.7% |
Summary: Homes in Hopkins had an average of 39 days on market in Mar 2024, up by 24.7% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hopkins are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 33 homes were sold in Hopkins; 58% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
