$4,513 Closing Credit*
$380,000
1,237 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Engel & Volkers Minneapolis Downtown
Is Downtown East, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Downtown East was a Seller's Market.
Key Takeaway
Downtown East is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown East, MN
How much do homes in Downtown East, MN cost?
Median Sold Price
$600,000
$396/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$29,500(-4.7%)
Key Takeaway
Homes in Downtown East have sold for 4.7% less than they did a year ago.
Summary: The median home sold price in Downtown East was $600,000 in November 2024, down 4.7% from last year, and the median price per square foot was $396.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $432.5K | $379.9K | -12.2% |
| 2 Bedrooms | $624.5K | $582.5K | -6.7% |
| 3 Bedrooms | $739.3K | $1.0M | +40.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown East housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.2%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 40.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $220K | $280K | +27.3% |
| Central | $319.7K | $372.3K | +16.5% |
| Downtown East | $629.5K | $600K | -4.7% |
Housing Supply in Downtown East, MN
How many homes are available in Downtown East, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 33 | -10.8% |
Summary: The Downtown East real estate market had 33 homes for sale in November 2024, a 10.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 32 | 27 | -15.6% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown East housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 15.6%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 4 | -50.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown East, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Downtown East in November 2024, down by 50.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown East, MN
How long does it take to sell a home in Downtown East, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 126 Days | +185.3% |
Summary: Homes in Downtown East had an average of 126 days on market in Nov 2024, up by 185.3% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown East has remained consistent over time.
Summary: During November 2024, 4 homes were sold in Downtown East; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
