$5,284 Closing Credit*
$445,000
2,956 SqFt
#6628778, Polina Kilpela, Listing Office: National Realty Guild
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 October 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
$390,000
$216/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$5,000(-1.3%)
Key Takeaway
Homes in Merriam Park-Lexington-Hamline have sold for 1.3% less than they did a year ago.
Summary: The median home sold price in Merriam Park-Lexington-Hamline was $390,000 in October 2024, down 1.3% from last year, and the median price per square foot was $216.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $206K | $215K | +4.4% |
| 2 Bedrooms | $304.5K | $284.2K | -6.7% |
| 3 Bedrooms | $359.9K | $363K | +0.8% |
| 4 Bedrooms | $425K | $453K | +6.6% |
| 5+ Bedrooms | $499.9K | $640K | +28.0% |
Summary: Merriam Park-Lexington-Hamline housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.4%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes increased by 0.8%, 4 bedroom homes increased by 6.6%, and 5+ bedroom homes increased by 28%.
Median Sold Price Compared To Nearby Neighborhoods
| Saint Anthony | $280K | $328.5K | +17.3% |
| Prospect Park / East River Road | $342K | $372K | +8.8% |
| Macalester-Groveland | $410K | $430K | +4.9% |
| Midway | $274.9K | $281.2K | +2.3% |
| Merriam Park-Lexington-Hamline | $395K | $390K | -1.3% |
Housing Supply in Merriam Park-Lexington-Hamline, MN
How many homes are available in Merriam Park-Lexington-Hamline, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 43 | +10.3% |
Summary: The Merriam Park-Lexington-Hamline real estate market had 43 homes for sale in October 2024, a 10.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 13 | 14 | +7.7% |
| 4 Bedrooms | 16 | 19 | +18.8% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Merriam Park-Lexington-Hamline 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 remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 18.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 15 | +87.5% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 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. 60% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Merriam Park-Lexington-Hamline in October 2024, up by 87.5% month-over-month. Of the 15 sold homes, 60% were sold under asking, 13% were sold at asking, and 27% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 31 Days | +141.8% |
Summary: Homes in Merriam Park-Lexington-Hamline had an average of 31 days on market in Oct 2024, up by 141.8% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was 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 October 2024, 15 homes were sold in Merriam Park-Lexington-Hamline; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
