$10,000 Closing Credit*
$1,700,000
3,918 SqFt
4 Beds
•3 Full Baths
Listing Office: Edina Realty, Inc.
Is Hennepin County, 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, 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
$381,481
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,747(+2.3%)
Key Takeaway
Homes in Hennepin County have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Hennepin County was $381,481 in November 2024, up 2.3% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170K | $164.5K | -3.2% |
| 2 Bedrooms | $273.3K | $276.2K | +1.1% |
| 3 Bedrooms | $360K | $365K | +1.4% |
| 4 Bedrooms | $465.6K | $466.4K | 0.2% |
| 5+ Bedrooms | $714.7K | $725.3K | +1.5% |
Summary: Hennepin County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.2%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 1.4%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes increased by 1.5%.
Median Sold Price Compared To Nearby Counties
| Ramsey County | $309.9K | $324.9K | +4.9% |
| Carver County | $431.8K | $450.6K | +4.3% |
| Anoka County | $349.9K | $359.4K | +2.7% |
| Hennepin County | $372.7K | $381.4K | +2.3% |
| Wright County | $373.9K | $375K | 0.3% |
Housing Supply in Hennepin County, MN
How many homes are available in Hennepin County, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5,190 | 4,951 | -4.6% |
Summary: The Hennepin County real estate market had 4,951 homes for sale in November 2024, a 4.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 328 | 340 | +3.7% |
| 2 Bedrooms | 1,089 | 1,060 | -2.7% |
| 3 Bedrooms | 1,661 | 1,556 | -6.3% |
| 4 Bedrooms | 1,345 | 1,271 | -5.5% |
| 5+ Bedrooms | 767 | 724 | -5.6% |
Summary: The Hennepin County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.7%, 2 bedroom homes decreased by 2.7%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 5.5%, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1,316 | 1,060 | -19.5% |
Asking Price vs. Sold Price
495 Homes Were Sold
Under Asking
260 Homes Were Sold
At Asking
305 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. 46.7% of homes here sold below asking price last month.
Summary: A total of 1,060 homes were sold or pending in Hennepin County in November 2024, down by 19.5% month-over-month. Of the 1,060 sold homes, 47% were sold under asking, 25% were sold at asking, and 29% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 34 Days | +11.2% |
Summary: Homes in Hennepin County had an average of 34 days on market in Nov 2024, up by 11.2% compared to last year.
Breakdown of Home Sale Times
632 Homes Were Sold
Under 30 Days
341 Homes Were Sold
In 30 - 90 Days
84 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 November 2024, 1060 homes were sold in Hennepin County; 60% of homes were sold within 30 days, 32% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
