$9,381 Closing Credit*
$790,000
3,281 SqFt
Listing Office: Keller Williams Premier Realty
Is Summit Hill, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Summit Hill has remained a Seller's Market.
Key Takeaway
Summit Hill is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summit Hill, MN
How much do homes in Summit Hill, MN cost?
Median Sold Price
$507,500
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$8,250(-1.6%)
Key Takeaway
Homes in Summit Hill have sold for 1.6% less than they did a year ago.
Summary: The median home sold price in Summit Hill was $507,500 in December 2024, down 1.6% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $207.4K | -13.6% |
| 2 Bedrooms | $320K | $320K | 0.0% |
| 3 Bedrooms | $460K | $515K | +12.0% |
| 4 Bedrooms | $640K | $550K | -14.1% |
| 5+ Bedrooms | $830K | $1.0M | +26.1% |
Summary: Summit Hill housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.6%, 2 bedroom homes did not change, 3 bedroom homes increased by 12%, 4 bedroom homes decreased by 14.1%, and 5+ bedroom homes increased by 26.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Summit-University | $285K | $300K | +5.3% |
| Merriam Park-Lexington-Hamline | $391K | $401K | +2.6% |
| Summit Hill | $515.7K | $507.5K | -1.6% |
Housing Supply in Summit Hill, MN
How many homes are available in Summit Hill, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 28 | 22 | -21.4% |
Summary: The Summit Hill real estate market had 22 homes for sale in December 2024, a 21.4% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Summit Hill housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 7 | 9 | +28.6% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Summit Hill, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Summit Hill in December 2024, up by 28.6% month-over-month. Of the 9 sold homes, 67% were sold under asking, 22% were sold at asking, and 11% were sold over asking.
Days on Market for Summit Hill, MN
How long does it take to sell a home in Summit Hill, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 46 Days | 100 Days | +117.4% |
Summary: Homes in Summit Hill had an average of 100 days on market in Dec 2024, up by 117.4% compared to last year.
Breakdown of Home Sale Times
5 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 Summit Hill are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 9 homes were sold in Summit Hill; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
