$3,699,500
5,651 SqFt
5 Beds
•3 Full Baths, 1 Partial
Listing Office: Coldwell Banker Realty
Is Merriam Park-Lexington-Hamline, 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, Merriam Park-Lexington-Hamline has remained a Seller's Market.
Key Takeaway
Merriam Park-Lexington-Hamline is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Merriam Park-Lexington-Hamline, MN
How much do homes in Merriam Park-Lexington-Hamline, MN cost?
Median Sold Price
$400,000
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,500(+1.7%)
Key Takeaway
Homes in Merriam Park-Lexington-Hamline have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Merriam Park-Lexington-Hamline was $400,000 in November 2024, up 1.7% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206K | $215K | +4.4% |
| 2 Bedrooms | $305K | $279.6K | -8.3% |
| 3 Bedrooms | $369.9K | $359.9K | -2.7% |
| 4 Bedrooms | $416K | $465K | +11.8% |
| 5+ Bedrooms | $487.4K | $607.5K | +24.6% |
Summary: Merriam Park-Lexington-Hamline housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes decreased by 8.3%, 3 bedroom homes decreased by 2.7%, 4 bedroom homes increased by 11.8%, and 5+ bedroom homes increased by 24.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Saint Anthony | $290K | $330.2K | +13.9% |
| Prospect Park / East River Road | $347.5K | $372K | +7.1% |
| Macalester-Groveland | $401K | $429K | +7.0% |
| Midway | $271K | $284.5K | +5.0% |
| Merriam Park-Lexington-Hamline | $393.5K | $400K | +1.7% |
Housing Supply in Merriam Park-Lexington-Hamline, MN
How many homes are available in Merriam Park-Lexington-Hamline, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 41 | 30 | -26.8% |
Summary: The Merriam Park-Lexington-Hamline real estate market had 30 homes for sale in November 2024, a 26.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 8 | -38.5% |
| 4 Bedrooms | 18 | 11 | -38.9% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Merriam Park-Lexington-Hamline housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 38.5%, 4 bedroom homes decreased by 38.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 8 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Merriam Park-Lexington-Hamline, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Merriam Park-Lexington-Hamline in November 2024, down by 50.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Merriam Park-Lexington-Hamline, MN
How long does it take to sell a home in Merriam Park-Lexington-Hamline, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 16 Days | -57.8% |
Summary: Homes in Merriam Park-Lexington-Hamline had an average of 16 days on market in Nov 2024, down by 57.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Merriam Park-Lexington-Hamline are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Merriam Park-Lexington-Hamline; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
