$2,078 Closing Credit*
$175,000
864 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: eXp Realty
Is New Hope, 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, New Hope was a Seller's Market.
Key Takeaway
New Hope is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in New Hope, MN
How much do homes in New Hope, MN cost?
Median Sold Price
$350,000
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$20,000(+6.1%)
Key Takeaway
Homes in New Hope have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in New Hope was $350,000 in November 2024, up 6.1% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $132.2K | +5.8% |
| 2 Bedrooms | $204.9K | $223K | +8.8% |
| 3 Bedrooms | $322K | $336.2K | +4.4% |
| 4 Bedrooms | $352K | $367.5K | +4.4% |
| 5+ Bedrooms | $375K | $415K | +10.7% |
Summary: New Hope housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.8%, 2 bedroom homes increased by 8.8%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Crystal | $295K | $317K | +7.5% |
| New Hope | $330K | $350K | +6.1% |
| Brooklyn Park | $335K | $340K | +1.5% |
Housing Supply in New Hope, MN
How many homes are available in New Hope, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 51 | -13.6% |
Summary: The New Hope real estate market had 51 homes for sale in November 2024, a 13.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 29 | 20 | -31.0% |
| 4 Bedrooms | 15 | 18 | +20.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The New Hope 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 decreased by 12.5%, 3 bedroom homes decreased by 31%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 8 | -57.9% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in New Hope in November 2024, down by 57.9% month-over-month. Of the 8 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for New Hope, MN
How long does it take to sell a home in New Hope, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 22 Days | 33 Days | +46.2% |
Summary: Homes in New Hope had an average of 33 days on market in Nov 2024, up by 46.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in New Hope are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in New Hope; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
