$2,968 Closing Credit*
$249,900
1,043 SqFt
2 Beds
•1 Bath
Listing Office: Compass
Is Loring Park, 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, 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
$242,500
$206/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since November 2023.
Key Takeaway
The sold price of homes in Loring Park has remained the same since last year.
Summary: The median home sold price in Loring Park was $242,500 in November 2024, the same as last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $178.5K | $183K | +2.5% |
| 2 Bedrooms | $310K | $299K | -3.5% |
| 3 Bedrooms | $400K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Loring Park housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 3.5%, 3 bedroom homes did not change, 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% |
| Lowry Hill | $625K | $726.5K | +16.2% |
| Loring Park | $242.5K | $242.5K | 0.0% |
Housing Supply in Loring Park, MN
How many homes are available in Loring Park, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 47 | 50 | +6.4% |
Summary: The Loring Park real estate market had 50 homes for sale in November 2024, a 6.4% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 18 | 20 | +11.1% |
| 2 Bedrooms | 25 | 25 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Loring Park housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Loring Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Loring Park in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 98 Days | 66 Days | -32.7% |
Summary: Homes in Loring Park had an average of 66 days on market in Nov 2024, down by 32.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Loring Park are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Loring Park; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
