Is New Hope, 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, New Hope has remained a Seller's Market.
Key Takeaway
New Hope is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Hope, MN
How much do homes in New Hope, MN cost?
Median Sold Price
$338,500
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in New Hope have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in New Hope was $338,500 in April 2024, up 4.2% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $117.4K | $125K | +6.4% |
| 2 Bedrooms | $257K | $246.5K | -4.1% |
| 3 Bedrooms | $310K | $333.7K | +7.7% |
| 4 Bedrooms | $350.5K | $365K | +4.1% |
| 5+ Bedrooms | $386.2K | $389.9K | +1.0% |
Summary: New Hope housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.4%, 2 bedroom homes decreased by 4.1%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
| New Hope | $325K | $338.5K | +4.2% |
| Crystal | $300K | $306.2K | +2.1% |
| Brooklyn Park | $335K | $335.9K | 0.3% |
Housing Supply in New Hope, MN
How many homes are available in New Hope, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 58 | +23.4% |
Summary: The New Hope real estate market had 58 homes for sale in April 2024, a 23.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 15 | 26 | +73.3% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The New Hope housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 73.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 15 | 21 | +40.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you could pay more than the asking price. 57.1% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in New Hope in April 2024, up by 40.0% month-over-month. Of the 21 sold homes, 14% were sold under asking, 29% were sold at asking, and 57% were sold over asking.
Days on Market for New Hope, MN
How long does it take to sell a home in New Hope, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 12 Days | 22 Days | +74.5% |
Summary: Homes in New Hope had an average of 22 days on market in Apr 2024, up by 74.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Hope are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 21 homes were sold in New Hope; 86% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
