$8,075 Closing Credit*
$680,000
2,395 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: RE/MAX Results
Is Summit Hill, 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, Summit Hill was a Neutral 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
$522,000
$247/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$2,000(+0.4%)
Key Takeaway
The sold price of homes in Summit Hill has remained the same since last year.
Summary: The median home sold price in Summit Hill was $522,000 in October 2024, up 0.4% from last year, and the median price per square foot was $247.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $245K | $219.9K | -10.2% |
| 2 Bedrooms | $292.5K | $340K | +16.2% |
| 3 Bedrooms | $427.4K | $515K | +20.5% |
| 4 Bedrooms | $640K | $547.5K | -14.5% |
| 5+ Bedrooms | $987.5K | $1.0M | +6.2% |
Summary: Summit Hill housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.2%, 2 bedroom homes increased by 16.2%, 3 bedroom homes increased by 20.5%, 4 bedroom homes decreased by 14.5%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Neighborhoods
| West Seventh | $285K | $300K | +5.3% |
| Summit-University | $295K | $299K | +1.4% |
| Summit Hill | $520K | $522K | 0.4% |
| Merriam Park-Lexington-Hamline | $395K | $390K | -1.3% |
Housing Supply in Summit Hill, MN
How many homes are available in Summit Hill, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 36 | 32 | -11.1% |
Summary: The Summit Hill real estate market had 32 homes for sale in October 2024, a 11.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 8 | 5 | -37.5% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Summit Hill housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 37.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 6 | -50.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were 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 6 homes were sold or pending in Summit Hill in October 2024, down by 50.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 27 Days | +32.8% |
Summary: Homes in Summit Hill had an average of 27 days on market in Oct 2024, up by 32.8% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Summit Hill has remained consistent over time.
Summary: During October 2024, 6 homes were sold in Summit Hill; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
