$4,749 Closing Credit*
$399,900
1,720 SqFt
4 Beds
•1 Full Bath
Listing Office: Coldwell Banker 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 October 2023
Since last year, New Hope has remained a Seller's Market.
Key Takeaway
New Hope is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Hope, MN
How much do homes in New Hope, MN cost?
Median Sold Price
$347,500
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$17,500(+5.3%)
Key Takeaway
Homes in New Hope have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in New Hope was $347,500 in October 2024, up 5.3% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $125K | $130K | +4.0% |
| 2 Bedrooms | $204.9K | $230.5K | +12.5% |
| 3 Bedrooms | $324K | $335K | +3.4% |
| 4 Bedrooms | $351.5K | $366.2K | +4.2% |
| 5+ Bedrooms | $375K | $415K | +10.7% |
Summary: New Hope housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Crystal | $297.6K | $315K | +5.8% |
| New Hope | $330K | $347.5K | +5.3% |
| Brooklyn Park | $335K | $339.6K | +1.4% |
Housing Supply in New Hope, MN
How many homes are available in New Hope, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 63 | +12.5% |
Summary: The New Hope real estate market had 63 homes for sale in October 2024, a 12.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 5 | 9 | +80.0% |
| 3 Bedrooms | 33 | 31 | -6.1% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The New Hope housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 80%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in New Hope, you could pay more than the asking price. 42.1% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in New Hope in October 2024, the same as the previous month. Of the 19 sold homes, 21% were sold under asking, 37% were sold at asking, and 42% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 29 Days | +37.4% |
Summary: Homes in New Hope had an average of 29 days on market in Oct 2024, up by 37.4% compared to last year.
Breakdown of Home Sale Times
14 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 New Hope are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 19 homes were sold in New Hope; 74% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
