Is University, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, University was a Seller's Market.
Key Takeaway
University is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in University, MN
How much do homes in University, MN cost?
Median Sold Price
$329,000
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in University have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in University was $329,000 in April 2024, up 1.2% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $254K | $201K | -20.9% |
| 2 Bedrooms | $296K | $299.9K | +1.3% |
| 3 Bedrooms | $363K | $444.8K | +22.6% |
| 4 Bedrooms | $365K | $365K | 0.0% |
| 5+ Bedrooms | $372.5K | $403.2K | +8.3% |
Summary: University housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.9%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 22.6%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 8.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Como (Minneapolis) | $295.5K | $309K | +4.6% |
| University | $325K | $329K | +1.2% |
Housing Supply in University, MN
How many homes are available in University, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 56 | 63 | +12.5% |
Summary: The University real estate market had 63 homes for sale in April 2024, a 12.5% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 14 | 16 | +14.3% |
| 2 Bedrooms | 25 | 29 | +16.0% |
| 3 Bedrooms | 7 | 9 | +28.6% |
| 4 Bedrooms | 6 | 7 | +16.7% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The University housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 16%, 3 bedroom homes increased by 28.6%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in University, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in University in April 2024, the same as the previous month. Of the 10 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for University, MN
How long does it take to sell a home in University, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 55 Days | 60 Days | +10.2% |
Summary: Homes in University had an average of 60 days on market in Apr 2024, up by 10.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in University are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in University; 50% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
