$8,313 Closing Credit*
$700,000
1,468 SqFt
2 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is Hennepin County, 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, Hennepin County has remained a Seller's Market.
Key Takeaway
Hennepin County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hennepin County, MN
How much do homes in Hennepin County, MN cost?
Median Sold Price
$380,362
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,909(+2.7%)
Key Takeaway
Homes in Hennepin County have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Hennepin County was $380,362 in October 2024, up 2.7% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $169.7K | $165K | -2.8% |
| 2 Bedrooms | $271.3K | $275.4K | +1.5% |
| 3 Bedrooms | $359.9K | $364.9K | +1.4% |
| 4 Bedrooms | $464.3K | $465.5K | 0.3% |
| 5+ Bedrooms | $710.4K | $726.7K | +2.3% |
Summary: Hennepin County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.8%, 2 bedroom homes increased by 1.5%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Counties
| Ramsey County | $309.1K | $324.9K | +5.1% |
| Carver County | $434K | $449.9K | +3.7% |
| Hennepin County | $370.4K | $380.3K | +2.7% |
| Anoka County | $349.8K | $359.3K | +2.7% |
| Wright County | $374.9K | $374.8K | 0% |
Housing Supply in Hennepin County, MN
How many homes are available in Hennepin County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5,241 | 5,717 | +9.1% |
Summary: The Hennepin County real estate market had 5,717 homes for sale in October 2024, a 9.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 329 | 377 | +14.6% |
| 2 Bedrooms | 1,118 | 1,208 | +8.1% |
| 3 Bedrooms | 1,668 | 1,810 | +8.5% |
| 4 Bedrooms | 1,354 | 1,466 | +8.3% |
| 5+ Bedrooms | 772 | 856 | +10.9% |
Summary: The Hennepin County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.6%, 2 bedroom homes increased by 8.1%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 10.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,252 | 1,227 | -2.0% |
Asking Price vs. Sold Price
549 Homes Were Sold
Under Asking
279 Homes Were Sold
At Asking
399 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hennepin County, you may be able to get a good deal. 44.7% of homes here sold below asking price last month.
Summary: A total of 1,227 homes were sold or pending in Hennepin County in October 2024, down by 2.0% month-over-month. Of the 1,227 sold homes, 45% were sold under asking, 23% were sold at asking, and 33% were sold over asking.
Days on Market for Hennepin County, MN
How long does it take to sell a home in Hennepin County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 35 Days | +17.9% |
Summary: Homes in Hennepin County had an average of 35 days on market in Oct 2024, up by 17.9% compared to last year.
Breakdown of Home Sale Times
751 Homes Were Sold
Under 30 Days
360 Homes Were Sold
In 30 - 90 Days
107 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hennepin County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1227 homes were sold in Hennepin County; 61% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
