$7,719 Closing Credit*
$650,000
1,805 SqFt
2 Beds
•1 Full Bath
Listing Office: Lakes Sotheby's International
Is Loring Park, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Loring Park was a Seller's Market.
Key Takeaway
Loring Park is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Loring Park, MN
How much do homes in Loring Park, MN cost?
Median Sold Price
$250,450
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,950(+7.7%)
Key Takeaway
Homes in Loring Park have sold for 7.7% more than they did a year ago.
Summary: The median home sold price in Loring Park was $250,450 in October 2024, up 7.7% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178.5K | $183K | +2.5% |
| 2 Bedrooms | $310K | $300K | -3.2% |
| 3 Bedrooms | $355K | $400K | +12.7% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Loring Park housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 3.2%, 3 bedroom homes increased by 12.7%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $218K | $274K | +25.7% |
| Lowry Hill | $625K | $765K | +22.4% |
| Central | $320K | $366.7K | +14.6% |
| Loring Park | $232.5K | $250.4K | +7.7% |
Housing Supply in Loring Park, MN
How many homes are available in Loring Park, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 43 | 52 | +20.9% |
Summary: The Loring Park real estate market had 52 homes for sale in October 2024, a 20.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 20 | +11.1% |
| 2 Bedrooms | 22 | 28 | +27.3% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Loring Park housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Loring Park, expect to pay close to the asking price. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Loring Park in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% were sold over asking.
Days on Market for Loring Park, MN
How long does it take to sell a home in Loring Park, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 249 Days | 90 Days | -63.6% |
Summary: Homes in Loring Park had an average of 90 days on market in Oct 2024, down by 63.6% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Loring Park has remained consistent over time.
Summary: During October 2024, 5 homes were sold in Loring Park; 0% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
