Is Summit Hill, 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, Summit Hill has remained a Seller's Market.
Housing Prices in Summit Hill, MN
How much do homes in Summit Hill, MN cost?
Median Sold Price
$515,000
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Summit Hill was $515,000 in April 2024, up 12% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $241K | +41.8% |
2 Bedrooms | $295.9K | $255K | -13.8% |
3 Bedrooms | $472.5K | $515K | +9.0% |
4 Bedrooms | $539K | $760K | +41.0% |
5+ Bedrooms | $1.0M | $895K | -10.5% |
Summary: Summit Hill housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 41.8%, 2 bedroom homes decreased by 13.8%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 41%, and 5+ bedroom homes decreased by 10.5%.
Median Sold Price Compared To Nearby Neighborhoods
Summit Hill | $460K | $515K | +12.0% |
Merriam Park-Lexington-Hamline | $374K | $401K | +7.2% |
West Seventh | $280K | $286.4K | +2.3% |
Summit-University | $299.9K | $299K | -0.3% |
Housing Supply in Summit Hill, MN
How many homes are available in Summit Hill, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
32 | 37 | +15.6% |
Summary: The Summit Hill real estate market had 37 homes for sale in April 2024, a 15.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 10 | 10 | 0.0% |
3 Bedrooms | 4 | 6 | +50.0% |
4 Bedrooms | 6 | 8 | +33.3% |
5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Summit Hill housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes remained the same, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 7 homes were sold or pending in Summit Hill in April 2024, up by 16.7% month-over-month. Of the 7 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Summit Hill, MN
How long does it take to sell a home in Summit Hill, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
8 Days | 34 Days | +300.5% |
Summary: Homes in Summit Hill had an average of 34 days on market in Apr 2024, up by 300.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 7 homes were sold in Summit Hill; 57% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.