Is Spring Lake Park, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Spring Lake Park is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Spring Lake Park has remained a Seller's Market.

Key Takeaway

Spring Lake Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Spring Lake Park, MN

How much do homes in Spring Lake Park, MN cost?

Median Sold Price

$302,450

$181/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$12,450(+4.3%)

Key Takeaway

Homes in Spring Lake Park have sold for 4.3% more than they did a year ago.

Summary: The median home sold price in Spring Lake Park was $302,450 in September 2024, up 4.3% from last year, and the median price per square foot was $181.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $218K-
N/A
2 $250K$248.7K
-0.5%
3 $290K$290K
0.0%
4 $325K$334.5K
+2.9%
5+ $387.5K$380K
-1.9%

Summary: Spring Lake Park housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 0.5%, 3 bedroom homes did not change, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 1.9%.

Median Sold Price Compared To Nearby Cities

Mounds View
+11.1%
Spring Lake Park
+4.3%
Blaine
+2.7%
Fridley
+1.8%

Housing Supply in Spring Lake Park, MN

How many homes are available in Spring Lake Park, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1715-11.8%

Summary: The Spring Lake Park real estate market had 15 homes for sale in September 2024, a 11.8% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 43
-25.0%
3 95
-44.4%
4 46
+50.0%
5+ 01
+100.0%

Summary: The Spring Lake Park housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 44.4%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
660.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Spring Lake Park, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Spring Lake Park in September 2024, the same as the previous month. Of the 6 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.

Days on Market for Spring Lake Park, MN

How long does it take to sell a home in Spring Lake Park, MN?

Average Sale Time

Sep 2023Sep 2024CHANGE
5 Days15 Days+177.8%

Summary: Homes in Spring Lake Park had an average of 15 days on market in Sep 2024, up by 177.8% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Spring Lake Park are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 6 homes were sold in Spring Lake Park; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 13 Days Ago

Newest Listings in Spring Lake Park, MN

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