$2,699,000
5,754 SqFt
5 Beds
•2 Full Baths, 1 Partial
Listing Office: Real Estate Masters, Ltd.
Is Mendota Heights, 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, Mendota Heights has remained a Seller's Market.
Key Takeaway
Mendota Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mendota Heights, MN
How much do homes in Mendota Heights, MN cost?
Median Sold Price
$521,500
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$47,230(+10.0%)
Key Takeaway
Homes in Mendota Heights have sold for 10% more than they did a year ago.
Summary: The median home sold price in Mendota Heights was $521,500 in November 2024, up 10% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $293.5K | $480K | +63.5% |
| 2 Bedrooms | $297.5K | $269.4K | -9.4% |
| 3 Bedrooms | $520K | $455K | -12.5% |
| 4 Bedrooms | $610.5K | $619.9K | +1.5% |
| 5+ Bedrooms | $645K | $800K | +24.0% |
Summary: Mendota Heights housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 63.5%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes decreased by 12.5%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 24%.
Median Sold Price Compared To Nearby Cities
| Mendota Heights | $474.2K | $521.5K | +10.0% |
| Lilydale | $441K | $485K | +10.0% |
Housing Supply in Mendota Heights, MN
How many homes are available in Mendota Heights, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 46 | +12.2% |
Summary: The Mendota Heights real estate market had 46 homes for sale in November 2024, a 12.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 10 | +42.9% |
| 3 Bedrooms | 15 | 10 | -33.3% |
| 4 Bedrooms | 13 | 20 | +53.8% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Mendota Heights housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 42.9%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes increased by 53.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Mendota Heights, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Mendota Heights in November 2024, up by 25.0% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% were sold over asking.
Days on Market for Mendota Heights, MN
How long does it take to sell a home in Mendota Heights, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 52 Days | 58 Days | +11.2% |
Summary: Homes in Mendota Heights had an average of 58 days on market in Nov 2024, up by 11.2% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mendota Heights are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Mendota Heights; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
