$2,316 Closing Credit*
$195,000
1,141 SqFt
1 Bed
•2 Full Baths
Listing Office: Kris Lindahl Real Estate
Is Bloomington, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$360,000
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+1.4%)
Key Takeaway
Homes in Bloomington have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Bloomington was $360,000 in October 2024, up 1.4% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $160K | $158K | -1.3% |
| 2 Bedrooms | $265K | $265K | 0.0% |
| 3 Bedrooms | $355K | $355K | 0.0% |
| 4 Bedrooms | $413.1K | $413.6K | 0.1% |
| 5+ Bedrooms | $491.5K | $482.5K | -1.8% |
Summary: Bloomington housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.3%, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 0.1%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Edina | $580.6K | $612.1K | +5.4% |
| Richfield | $335K | $350K | +4.5% |
| Burnsville | $355K | $370K | +4.2% |
| Savage | $409.6K | $425K | +3.7% |
| Bloomington | $355K | $360K | +1.4% |
Housing Supply in Bloomington, MN
How many homes are available in Bloomington, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 285 | 298 | +4.6% |
Summary: The Bloomington real estate market had 298 homes for sale in October 2024, a 4.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 16 | -11.1% |
| 2 Bedrooms | 59 | 60 | +1.7% |
| 3 Bedrooms | 93 | 88 | -5.4% |
| 4 Bedrooms | 88 | 103 | +17.0% |
| 5+ Bedrooms | 27 | 31 | +14.8% |
Summary: The Bloomington housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 11.1%, 2 bedroom homes increased by 1.7%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 14.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 74 | 73 | -1.4% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
35 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bloomington, you could pay more than the asking price. 47.9% of homes here sold above asking price last month.
Summary: A total of 73 homes were sold or pending in Bloomington in October 2024, down by 1.4% month-over-month. Of the 73 sold homes, 32% were sold under asking, 21% were sold at asking, and 48% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 22 Days | 24 Days | +7.9% |
Summary: Homes in Bloomington had an average of 24 days on market in Oct 2024, up by 7.9% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
15 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 October 2024, 73 homes were sold in Bloomington; 70% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
