$2,136 Closing Credit*
$179,900
1,050 SqFt
1 Bed
•1 Full Bath
Listing Office: River Town Realty of MN, INC
Is Inver Grove Heights, 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, Inver Grove Heights has remained a Seller's Market.
Key Takeaway
Inver Grove Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Inver Grove Heights, MN
How much do homes in Inver Grove Heights, MN cost?
Median Sold Price
$365,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,000(+7.4%)
Key Takeaway
Homes in Inver Grove Heights have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Inver Grove Heights was $365,000 in October 2024, up 7.4% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $177.6K | $325.2K | +83.1% |
| 2 Bedrooms | $257K | $259K | +0.8% |
| 3 Bedrooms | $348.2K | $360K | +3.4% |
| 4 Bedrooms | $428K | $510K | +19.1% |
| 5+ Bedrooms | $662.4K | $719.9K | +8.7% |
Summary: Inver Grove Heights housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 83.1%, 2 bedroom homes increased by 0.8%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes increased by 8.7%.
Median Sold Price Compared To Nearby Cities
| Inver Grove Heights | $340K | $365K | +7.4% |
| South Saint Paul | $280K | $293K | +4.6% |
| Newport | $338K | $325K | -3.8% |
| Saint Paul Park | $310K | $289K | -6.8% |
Housing Supply in Inver Grove Heights, MN
How many homes are available in Inver Grove Heights, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 132 | 138 | +4.5% |
Summary: The Inver Grove Heights real estate market had 138 homes for sale in October 2024, a 4.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 39 | 46 | +17.9% |
| 3 Bedrooms | 39 | 35 | -10.3% |
| 4 Bedrooms | 36 | 38 | +5.6% |
| 5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Inver Grove Heights housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 17.9%, 3 bedroom homes decreased by 10.3%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 29 | 0.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Inver Grove Heights, you could pay more than the asking price. 37.9% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Inver Grove Heights in October 2024, the same as the previous month. Of the 29 sold homes, 34% were sold under asking, 28% were sold at asking, and 38% were sold over asking.
Days on Market for Inver Grove Heights, MN
How long does it take to sell a home in Inver Grove Heights, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 31 Days | -20.6% |
Summary: Homes in Inver Grove Heights had an average of 31 days on market in Oct 2024, down by 20.6% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Inver Grove Heights are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in Inver Grove Heights; 59% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
