$2,434 Closing Credit*
$205,000
1,170 SqFt
2 Beds
•1 Full Bath
Listing Office: Kris Lindahl Real Estate
Is Summit-University, 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, 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
$299,900
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$6,650(+2.3%)
Key Takeaway
Homes in Summit-University have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in Summit-University was $299,900 in November 2024, up 2.3% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $177K | -15.7% |
| 2 Bedrooms | $297.5K | $283K | -4.9% |
| 3 Bedrooms | $351K | $296.5K | -15.5% |
| 4 Bedrooms | $348.5K | $480K | +37.7% |
| 5+ Bedrooms | $532.5K | $621K | +16.6% |
Summary: Summit-University housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15.7%, 2 bedroom homes decreased by 4.9%, 3 bedroom homes decreased by 15.5%, 4 bedroom homes increased by 37.7%, and 5+ bedroom homes increased by 16.6%.
Median Sold Price Compared To Nearby Neighborhoods
| West Seventh | $280K | $300K | +7.1% |
| Summit-University | $293.2K | $299.9K | +2.3% |
| Frogtown / Thomas-Dale | $237K | $235K | -0.8% |
| Summit Hill | $516.5K | $500K | -3.2% |
| Downtown Saint Paul | $212K | $195K | -8.0% |
Housing Supply in Summit-University, MN
How many homes are available in Summit-University, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 66 | 61 | -7.6% |
Summary: The Summit-University real estate market had 61 homes for sale in November 2024, a 7.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 13 | 10 | -23.1% |
| 2 Bedrooms | 22 | 22 | 0.0% |
| 3 Bedrooms | 14 | 13 | -7.1% |
| 4 Bedrooms | 9 | 9 | 0.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Summit-University housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 23.1%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 7.1%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 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. 73.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Summit-University in November 2024, up by 7.1% month-over-month. Of the 15 sold homes, 73% were sold under asking, 13% were sold at asking, and 13% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 55 Days | +58.0% |
Summary: Homes in Summit-University had an average of 55 days on market in Nov 2024, up by 58% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 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 November 2024, 15 homes were sold in Summit-University; 47% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
