Is Loring Park, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Loring Park was a Seller's Market.
Housing Prices in Loring Park, MN
How much do homes in Loring Park, MN cost?
Median Sold Price
$245,000
$219/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Loring Park was $245,000 in April 2024, down 2% from last year, and the median price per square foot was $219.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $159.9K | $200.5K | +25.4% |
2 Bedrooms | $358.7K | $300K | -16.4% |
3 Bedrooms | $377.5K | $400K | +6.0% |
4 Bedrooms | $775K | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Loring Park housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.4%, 2 bedroom homes decreased by 16.4%, 3 bedroom homes increased by 6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Lowry Hill | $320K | $634K | +98.1% |
Central | $325.6K | $340K | +4.4% |
Downtown West | $230K | $227.5K | -1.1% |
Loring Park | $250K | $245K | -2.0% |
Stevens Square / Loring Heights | $145K | $140.5K | -3.1% |
Housing Supply in Loring Park, MN
How many homes are available in Loring Park, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
37 | 41 | +10.8% |
Summary: The Loring Park real estate market had 41 homes for sale in April 2024, a 10.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 16 | 18 | +12.5% |
2 Bedrooms | 20 | 22 | +10.0% |
3 Bedrooms | 1 | 1 | 0.0% |
4 Bedrooms | 0 | 0 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Loring Park housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 10%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
5 | 6 | +20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Loring Park in April 2024, up by 20.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 0% were sold at asking, and 17% were sold over asking.
Days on Market for Loring Park, MN
How long does it take to sell a home in Loring Park, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
28 Days | 99 Days | +255.4% |
Summary: Homes in Loring Park had an average of 99 days on market in Apr 2024, up by 255.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Loring Park; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.