$1,995 Closing Credit*
$168,000
750 SqFt
1 Bed
•1 Full Bath
Listing Office: Compass
Is Bloomington, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Bloomington has remained a Seller's Market.
Key Takeaway
Bloomington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Bloomington, MN
How much do homes in Bloomington, MN cost?
Median Sold Price
$361,166
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$3,666(+1.0%)
Key Takeaway
Homes in Bloomington have sold for 1% more than they did a year ago.
Summary: The median home sold price in Bloomington was $361,166 in November 2024, up 1% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $159.9K | $172K | +7.6% |
| 2 Bedrooms | $265K | $265K | 0.0% |
| 3 Bedrooms | $355K | $355K | 0.0% |
| 4 Bedrooms | $415K | $413K | -0.5% |
| 5+ Bedrooms | $515K | $482.5K | -6.3% |
Summary: Bloomington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.6%, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Burnsville | $355K | $374.2K | +5.4% |
| Edina | $591.2K | $618.1K | +4.6% |
| Richfield | $336K | $350K | +4.2% |
| Savage | $418.7K | $425K | +1.5% |
| Bloomington | $357.5K | $361.1K | +1.0% |
Housing Supply in Bloomington, MN
How many homes are available in Bloomington, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 278 | 271 | -2.5% |
Summary: The Bloomington real estate market had 271 homes for sale in November 2024, a 2.5% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 14 | -6.7% |
| 2 Bedrooms | 56 | 56 | 0.0% |
| 3 Bedrooms | 81 | 82 | +1.2% |
| 4 Bedrooms | 96 | 94 | -2.1% |
| 5+ Bedrooms | 30 | 25 | -16.7% |
Summary: The Bloomington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 6.7%, 2 bedroom homes remained the same, 3 bedroom homes increased by 1.2%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 81 | 65 | -19.8% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomington, you may be able to get a good deal. 44.6% of homes here sold below asking price last month.
Summary: A total of 65 homes were sold or pending in Bloomington in November 2024, down by 19.8% month-over-month. Of the 65 sold homes, 45% were sold under asking, 22% were sold at asking, and 34% were sold over asking.
Days on Market for Bloomington, MN
How long does it take to sell a home in Bloomington, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 26 Days | 31 Days | +18.1% |
Summary: Homes in Bloomington had an average of 31 days on market in Nov 2024, up by 18.1% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
19 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Bloomington are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 65 homes were sold in Bloomington; 66% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
