$10,000 Closing Credit*
$1,850,000
4,025 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: West Metro Group
Is Shorewood, 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, 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
$657,500
$232/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$117,500(-15.2%)
Key Takeaway
Homes in Shorewood have sold for 15.2% less than they did a year ago.
Summary: The median home sold price in Shorewood was $657,500 in October 2024, down 15.2% from last year, and the median price per square foot was $232.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $426K | $610K | +43.2% |
| 3 Bedrooms | $640K | $503.6K | -21.3% |
| 4 Bedrooms | $646.9K | $658K | +1.7% |
| 5+ Bedrooms | $1.1M | $1.2M | +3.7% |
Summary: Shorewood housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 43.2%, 3 bedroom homes decreased by 21.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Deephaven | $846.2K | $1.1M | +30.0% |
| Tonka Bay | $1.4M | $1.5M | +7.6% |
| Excelsior | $840K | $759.5K | -9.6% |
| Shorewood | $775K | $657.5K | -15.2% |
Housing Supply in Shorewood, MN
How many homes are available in Shorewood, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 58 | 55 | -5.2% |
Summary: The Shorewood real estate market had 55 homes for sale in October 2024, a 5.2% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 13 | +44.4% |
| 3 Bedrooms | 15 | 11 | -26.7% |
| 4 Bedrooms | 16 | 13 | -18.8% |
| 5+ Bedrooms | 18 | 18 | 0.0% |
Summary: The Shorewood housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 44.4%, 3 bedroom homes decreased by 26.7%, 4 bedroom homes decreased by 18.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Shorewood, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Shorewood in October 2024, down by 33.3% month-over-month. Of the 10 sold homes, 50% were sold under asking, 20% were sold at asking, and 30% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 35 Days | +39.1% |
Summary: Homes in Shorewood had an average of 35 days on market in Oct 2024, up by 39.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Shorewood are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 10 homes were sold in Shorewood; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
