Is Summit-University, 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-University has remained a Seller's Market.
Key Takeaway
Summit-University is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summit-University, MN
How much do homes in Summit-University, MN cost?
Median Sold Price
$299,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
The sold price of homes in Summit-University has remained the same since last year.
Summary: The median home sold price in Summit-University was $299,000 in April 2024, down 0.3% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $226.5K | $205K | -9.5% |
| 2 Bedrooms | $265K | $289.9K | +9.4% |
| 3 Bedrooms | $331K | $325K | -1.8% |
| 4 Bedrooms | $475K | $340K | -28.4% |
| 5+ Bedrooms | $607.5K | $467.5K | -23.0% |
Summary: Summit-University housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 9.5%, 2 bedroom homes increased by 9.4%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes decreased by 28.4%, and 5+ bedroom homes decreased by 23%.
Median Sold Price Compared To Nearby Neighborhoods
| Summit Hill | $460K | $515K | +12.0% |
| Frogtown / Thomas-Dale | $223K | $237.5K | +6.5% |
| West Seventh | $280K | $286.4K | +2.3% |
| Downtown Saint Paul | $205K | $208.5K | +1.7% |
| Summit-University | $299.9K | $299K | -0.3% |
Housing Supply in Summit-University, MN
How many homes are available in Summit-University, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 52 | 57 | +9.6% |
Summary: The Summit-University real estate market had 57 homes for sale in April 2024, a 9.6% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 9 | +12.5% |
| 2 Bedrooms | 17 | 18 | +5.9% |
| 3 Bedrooms | 11 | 12 | +9.1% |
| 4 Bedrooms | 9 | 10 | +11.1% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Summit-University housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 5.9%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summit-University, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.
Summary: A total of 18 homes were sold or pending in Summit-University in April 2024, up by 5.9% month-over-month. Of the 18 sold homes, 44% were sold under asking, 28% were sold at asking, and 28% were sold over asking.
Days on Market for Summit-University, MN
How long does it take to sell a home in Summit-University, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 33 Days | 55 Days | +65.5% |
Summary: Homes in Summit-University had an average of 55 days on market in Apr 2024, up by 65.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summit-University are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 18 homes were sold in Summit-University; 44% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
