Is Near North, 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, Near North has remained a Seller's Market.
Housing Prices in Near North, MN
How much do homes in Near North, MN cost?
Median Sold Price
$225,750
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Near North was $225,750 in April 2024, down 1.8% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $268.7K | $107.5K | -60.0% |
2 Bedrooms | $200K | $169K | -15.5% |
3 Bedrooms | $223K | $220K | -1.3% |
4 Bedrooms | $244.9K | $254.3K | +3.9% |
5+ Bedrooms | $286K | $254K | -11.2% |
Summary: Near North housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 60%, 2 bedroom homes decreased by 15.5%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes decreased by 11.2%.
Median Sold Price Compared To Nearby Neighborhoods
Oak Park | $259K | $284.6K | +9.9% |
Forest Heights | $223K | $229.9K | +3.1% |
Near North | $229.9K | $225.7K | -1.8% |
Housing Supply in Near North, MN
How many homes are available in Near North, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
117 | 119 | +1.7% |
Summary: The Near North real estate market had 119 homes for sale in April 2024, a 1.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 21 | 19 | -9.5% |
3 Bedrooms | 50 | 58 | +16.0% |
4 Bedrooms | 36 | 35 | -2.8% |
5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Near North housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.5%, 3 bedroom homes increased by 16%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
28 | 32 | +14.3% |
Asking Price vs. Sold Price
14 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Near North in April 2024, up by 14.3% month-over-month. Of the 32 sold homes, 44% were sold under asking, 22% were sold at asking, and 34% were sold over asking.
Days on Market for Near North, MN
How long does it take to sell a home in Near North, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
37 Days | 48 Days | +27.3% |
Summary: Homes in Near North had an average of 48 days on market in Apr 2024, up by 27.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 32 homes were sold in Near North; 53% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.