$9,500 Closing Credit*
$800,000
2,648 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Keller Williams Premier Realty
Is Summit-University, 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, Summit-University has remained a Seller's Market.
Key Takeaway
Summit-University is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Summit-University, MN
How much do homes in Summit-University, MN cost?
Median Sold Price
$299,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$4,000(+1.4%)
Key Takeaway
Homes in Summit-University have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Summit-University was $299,000 in October 2024, up 1.4% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $179K | -14.8% |
| 2 Bedrooms | $291.5K | $301.2K | +3.3% |
| 3 Bedrooms | $349K | $288.1K | -17.4% |
| 4 Bedrooms | $348.5K | $460K | +32.0% |
| 5+ Bedrooms | $565K | $621K | +9.9% |
Summary: Summit-University housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14.8%, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes increased by 32%, and 5+ bedroom homes increased by 9.9%.
Median Sold Price Compared To Nearby Neighborhoods
| West Seventh | $285K | $300K | +5.3% |
| Downtown Saint Paul | $195K | $200K | +2.6% |
| Frogtown / Thomas-Dale | $236.5K | $240.3K | +1.6% |
| Summit-University | $295K | $299K | +1.4% |
| Summit Hill | $520K | $522K | 0.4% |
Housing Supply in Summit-University, MN
How many homes are available in Summit-University, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 67 | 73 | +9.0% |
Summary: The Summit-University real estate market had 73 homes for sale in October 2024, a 9.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 13 | +18.2% |
| 2 Bedrooms | 21 | 25 | +19.0% |
| 3 Bedrooms | 14 | 15 | +7.1% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Summit-University housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.2%, 2 bedroom homes increased by 19%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Summit-University, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Summit-University in October 2024, up by 44.4% month-over-month. Of the 13 sold homes, 46% were sold under asking, 31% were sold at asking, and 23% were sold over asking.
Days on Market for Summit-University, MN
How long does it take to sell a home in Summit-University, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 42 Days | +73.6% |
Summary: Homes in Summit-University had an average of 42 days on market in Oct 2024, up by 73.6% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Summit-University are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in Summit-University; 54% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 15% of homes were sold over 90 days.
