Is Plymouth, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Plymouth has remained a Seller's Market.
Key Takeaway
Plymouth is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Plymouth, MN
How much do homes in Plymouth, MN cost?
Median Sold Price
$493,633
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Plymouth have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Plymouth was $493,633 in May 2024, up 5.9% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $152.5K | +1.7% |
| 2 Bedrooms | $269.9K | $280K | +3.7% |
| 3 Bedrooms | $422.3K | $435.8K | +3.2% |
| 4 Bedrooms | $522.9K | $551.2K | +5.4% |
| 5+ Bedrooms | $775K | $835K | +7.7% |
Summary: Plymouth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.7%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
| Wayzata | $880K | $1.0M | +15.9% |
| Plymouth | $466.1K | $493.6K | +5.9% |
| New Hope | $329.1K | $335K | +1.8% |
| Golden Valley | $429.2K | $425K | -1.0% |
Housing Supply in Plymouth, MN
How many homes are available in Plymouth, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 358 | 428 | +19.6% |
Summary: The Plymouth real estate market had 428 homes for sale in May 2024, a 19.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 66 | 83 | +25.8% |
| 3 Bedrooms | 78 | 98 | +25.6% |
| 4 Bedrooms | 97 | 120 | +23.7% |
| 5+ Bedrooms | 113 | 122 | +8.0% |
Summary: The Plymouth housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 25.8%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 94 | 111 | +18.1% |
Asking Price vs. Sold Price
35 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
49 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Plymouth, you could pay more than the asking price. 44.1% of homes here sold above asking price last month.
Summary: A total of 111 homes were sold or pending in Plymouth in May 2024, up by 18.1% month-over-month. Of the 111 sold homes, 32% were sold under asking, 24% were sold at asking, and 44% were sold over asking.
Days on Market for Plymouth, MN
How long does it take to sell a home in Plymouth, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 22 Days | -1.4% |
Summary: Homes in Plymouth had an average of 22 days on market in May 2024, down by 1.4% compared to last year.
Breakdown of Home Sale Times
84 Homes Were Sold
Under 30 Days
23 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Plymouth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 111 homes were sold in Plymouth; 76% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
