$5,938 Closing Credit*
$500,000
1,358 SqFt
1 Bed
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is North Loop, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, North Loop was a Seller's Market.
Key Takeaway
North Loop is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Loop, MN
How much do homes in North Loop, MN cost?
Median Sold Price
$409,000
$342/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,000(+1.0%)
Key Takeaway
Homes in North Loop have sold for 1% more than they did a year ago.
Summary: The median home sold price in North Loop was $409,000 in October 2024, up 1% from last year, and the median price per square foot was $342.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $305K | $297.5K | -2.5% |
| 2 Bedrooms | $419.9K | $447.5K | +6.6% |
| 3 Bedrooms | $945K | $790K | -16.4% |
| 4 Bedrooms | $1.3M | $1.1M | -18.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: North Loop housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.5%, 2 bedroom homes increased by 6.6%, 3 bedroom homes decreased by 16.4%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $218K | $274K | +25.7% |
| Central | $320K | $366.7K | +14.6% |
| Loring Park | $232.5K | $250.4K | +7.7% |
| North Loop | $405K | $409K | +1.0% |
Housing Supply in North Loop, MN
How many homes are available in North Loop, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 55 | 61 | +10.9% |
Summary: The North Loop real estate market had 61 homes for sale in October 2024, a 10.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 18 | +12.5% |
| 2 Bedrooms | 32 | 35 | +9.4% |
| 3 Bedrooms | 6 | 7 | +16.7% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The North Loop housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 12.5%, 2 bedroom homes increased by 9.4%, 3 bedroom homes increased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Loop, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in North Loop in October 2024, the same as the previous month. Of the 8 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for North Loop, MN
How long does it take to sell a home in North Loop, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 33 Days | 69 Days | +108.5% |
Summary: Homes in North Loop had an average of 69 days on market in Oct 2024, up by 108.5% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in North Loop has remained consistent over time.
Summary: During October 2024, 8 homes were sold in North Loop; 25% of homes were sold within 30 days, 63% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
