Is New Hope, 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, New Hope has remained a Seller's Market.
Housing Prices in New Hope, MN
How much do homes in New Hope, MN cost?
Median Sold Price
$335,000
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in New Hope was $335,000 in March 2024, up 2.1% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $117.4K | $123.5K | +5.2% |
2 Bedrooms | $257K | $238K | -7.4% |
3 Bedrooms | $310K | $330K | +6.5% |
4 Bedrooms | $350K | $360K | +2.9% |
5+ Bedrooms | $380K | $391.2K | +3.0% |
Summary: New Hope housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 6.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Cities
New Hope | $328.1K | $335K | +2.1% |
Brooklyn Park | $332K | $336.5K | +1.4% |
Crystal | $302.3K | $305K | +0.9% |
Housing Supply in New Hope, MN
How many homes are available in New Hope, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
45 | 47 | +4.4% |
Summary: The New Hope real estate market had 47 homes for sale in March 2024, a 4.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 8 | 9 | +12.5% |
3 Bedrooms | 12 | 14 | +16.7% |
4 Bedrooms | 16 | 16 | 0.0% |
5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The New Hope housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
15 | 14 | -6.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 14 homes were sold or pending in New Hope in March 2024, down by 6.7% month-over-month. Of the 14 sold homes, 36% were sold under asking, 21% were sold at asking, and 43% were sold over asking.
Days on Market for New Hope, MN
How long does it take to sell a home in New Hope, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
11 Days | 39 Days | +255.9% |
Summary: Homes in New Hope had an average of 39 days on market in Mar 2024, up by 255.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 14 homes were sold in New Hope; 79% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.