Is North Oaks, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, North Oaks was a Seller's Market.
Key Takeaway
North Oaks is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Oaks, MN
How much do homes in North Oaks, MN cost?
Median Sold Price
$836,052
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in North Oaks have sold for 12.9% less than they did a year ago.
Summary: The median home sold price in North Oaks was $836,052 in March 2024, down 12.9% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $655.5K | $921.8K | +40.6% |
| 3 Bedrooms | $867.5K | $750K | -13.5% |
| 4 Bedrooms | $950K | $815K | -14.2% |
| 5+ Bedrooms | $1.2M | $934K | -22.5% |
Summary: North Oaks housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 40.6%, 3 bedroom homes decreased by 13.5%, 4 bedroom homes decreased by 14.2%, and 5+ bedroom homes decreased by 22.5%.
Median Sold Price Compared To Nearby Cities
| Lino Lakes | $419.9K | $447K | +6.4% |
| White Bear Township | $391K | $380K | -2.8% |
| Shoreview | $380K | $355K | -6.6% |
| North Oaks | $960K | $836K | -12.9% |
Housing Supply in North Oaks, MN
How many homes are available in North Oaks, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 43 | 53 | +23.3% |
Summary: The North Oaks real estate market had 53 homes for sale in March 2024, a 23.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 6 | +20.0% |
| 3 Bedrooms | 22 | 24 | +9.1% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The North Oaks housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in North Oaks, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in North Oaks in March 2024, down by 50.0% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for North Oaks, MN
How long does it take to sell a home in North Oaks, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 102 Days | 94 Days | -8.0% |
Summary: Homes in North Oaks had an average of 94 days on market in Mar 2024, down by 8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in North Oaks are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in North Oaks; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
