$1,663 Closing Credit*
$140,000
705 SqFt
1 Bed
•1 Full Bath
Listing Office: Engel & Volkers Lake Minnetonka
Is Nicollet Island / East Bank, 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, Nicollet Island / East Bank has remained a Seller's Market.
Key Takeaway
Nicollet Island / East Bank is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nicollet Island / East Bank, MN
How much do homes in Nicollet Island / East Bank, MN cost?
Median Sold Price
$475,000
$308/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$20,000(+4.4%)
Key Takeaway
Homes in Nicollet Island / East Bank have sold for 4.4% more than they did a year ago.
Summary: The median home sold price in Nicollet Island / East Bank was $475,000 in October 2024, up 4.4% from last year, and the median price per square foot was $308.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $245K | +11.4% |
| 2 Bedrooms | $499K | $490K | -1.8% |
| 3 Bedrooms | $650K | $799K | +22.9% |
| 4 Bedrooms | - | $790K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Nicollet Island / East Bank housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 22.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Nicollet Island / East Bank, MN
How many homes are available in Nicollet Island / East Bank, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Summary: The Nicollet Island / East Bank real estate market had 28 homes for sale in October 2024, a 3.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 21 | 19 | -9.5% |
| 3 Bedrooms | 2 | 2 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Nicollet Island / East Bank housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nicollet Island / East Bank, 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 Nicollet Island / East Bank in October 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Nicollet Island / East Bank, MN
How long does it take to sell a home in Nicollet Island / East Bank, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 56 Days | +86.3% |
Summary: Homes in Nicollet Island / East Bank had an average of 56 days on market in Oct 2024, up by 86.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nicollet Island / East Bank are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Nicollet Island / East Bank; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
