$4,275 Closing Credit*
$360,000
2,265 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Edina Realty, Inc.
Is New Hope, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, New Hope has remained a Seller's Market.
Key Takeaway
New Hope is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Hope, MN
How much do homes in New Hope, MN cost?
Median Sold Price
$340,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$10,000(+3.0%)
Key Takeaway
Homes in New Hope have sold for 3% more than they did a year ago.
Summary: The median home sold price in New Hope was $340,000 in September 2024, up 3% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $119.9K | $127.5K | +6.3% |
| 2 Bedrooms | $204.9K | $241.5K | +17.8% |
| 3 Bedrooms | $320K | $335K | +4.7% |
| 4 Bedrooms | $352K | $365K | +3.7% |
| 5+ Bedrooms | $380.6K | $400K | +5.1% |
Summary: New Hope housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Cities
| Crystal | $297.7K | $311.6K | +4.7% |
| New Hope | $330K | $340K | +3.0% |
| Brooklyn Park | $335K | $338.1K | +0.9% |
Housing Supply in New Hope, MN
How many homes are available in New Hope, MN?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 58 | 56 | -3.4% |
Summary: The New Hope real estate market had 56 homes for sale in September 2024, a 3.4% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 5 | +66.7% |
| 3 Bedrooms | 37 | 33 | -10.8% |
| 4 Bedrooms | 13 | 12 | -7.7% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The New Hope housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 66.7%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 23 | 17 | -26.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you may be able to get a good deal. 35.3% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in New Hope in September 2024, down by 26.1% month-over-month. Of the 17 sold homes, 35% were sold under asking, 29% were sold at asking, and 35% 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
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 22 Days | 23 Days | +6.1% |
Summary: Homes in New Hope had an average of 23 days on market in Sep 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Hope are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 17 homes were sold in New Hope; 65% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
