Is Inver Grove Heights, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Inver Grove Heights was a Seller's Market.
Housing Prices in Inver Grove Heights, MN
How much do homes in Inver Grove Heights, MN cost?
Median Sold Price
$363,500
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Inver Grove Heights was $363,500 in February 2024, up 11.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $177.6K | N/A |
2 Bedrooms | $251.5K | $259.9K | +3.4% |
3 Bedrooms | $330.5K | $350K | +5.9% |
4 Bedrooms | $432.5K | $450K | +4.0% |
5+ Bedrooms | $725K | $659.9K | -9.0% |
Summary: Inver Grove Heights housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 4%, and 5+ bedroom homes decreased by 9%.
Median Sold Price Compared To Nearby Cities
Inver Grove Heights | $325.1K | $363.5K | +11.8% |
Saint Paul Park | $300K | $318K | +6.0% |
South Saint Paul | $280K | $281K | 0.4% |
Newport | $360K | $338K | -6.1% |
Housing Supply in Inver Grove Heights, MN
How many homes are available in Inver Grove Heights, MN?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
85 | 105 | +23.5% |
Summary: The Inver Grove Heights real estate market had 105 homes for sale in February 2024, a 23.5% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 15 | 20 | +33.3% |
3 Bedrooms | 29 | 35 | +20.7% |
4 Bedrooms | 27 | 34 | +25.9% |
5+ Bedrooms | 14 | 16 | +14.3% |
Summary: The Inver Grove Heights housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
16 | 15 | -6.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Inver Grove Heights in February 2024, down by 6.3% month-over-month. Of the 15 sold homes, 40% were sold under asking, 13% were sold at asking, and 47% were sold over asking.
Days on Market for Inver Grove Heights, MN
How long does it take to sell a home in Inver Grove Heights, MN?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
33 Days | 43 Days | +26.8% |
Summary: Homes in Inver Grove Heights had an average of 43 days on market in Feb 2024, up by 26.8% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 15 homes were sold in Inver Grove Heights; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.