$5,834 Closing Credit*
$491,303
2,336 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: M/I Homes
Is Shorewood, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Shorewood has remained a Seller's Market.
Key Takeaway
Shorewood is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Shorewood, MN
How much do homes in Shorewood, MN cost?
Median Sold Price
$650,000
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$117,500(-15.3%)
Key Takeaway
Homes in Shorewood have sold for 15.3% less than they did a year ago.
Summary: The median home sold price in Shorewood was $650,000 in November 2024, down 15.3% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $426K | $556K | +30.5% |
| 3 Bedrooms | $706.2K | $499.9K | -29.2% |
| 4 Bedrooms | $651K | $663.6K | +1.9% |
| 5+ Bedrooms | $1.1M | $1.1M | -5.4% |
Summary: Shorewood housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 30.5%, 3 bedroom homes decreased by 29.2%, 4 bedroom homes increased by 1.9%, and 5+ bedroom homes decreased by 5.4%.
Median Sold Price Compared To Nearby Cities
| Deephaven | $886.2K | $1.1M | +28.6% |
| Tonka Bay | $1.3M | $1.5M | +11.6% |
| Excelsior | $828.8K | $750K | -9.5% |
| Shorewood | $767.5K | $650K | -15.3% |
Housing Supply in Shorewood, MN
How many homes are available in Shorewood, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 54 | 52 | -3.7% |
Summary: The Shorewood real estate market had 52 homes for sale in November 2024, a 3.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 13 | 12 | -7.7% |
| 3 Bedrooms | 12 | 10 | -16.7% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 16 | 17 | +6.3% |
Summary: The Shorewood 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 7.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shorewood, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Shorewood in November 2024, the same as the previous month. Of the 10 sold homes, 60% were sold under asking, 0% were sold at asking, and 40% were sold over asking.
Days on Market for Shorewood, MN
How long does it take to sell a home in Shorewood, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 35 Days | -4.8% |
Summary: Homes in Shorewood had an average of 35 days on market in Nov 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Shorewood are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 10 homes were sold in Shorewood; 70% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
