Is Saint Louis Park, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Saint Louis Park has remained a Seller's Market.
Key Takeaway
Saint Louis Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saint Louis Park, MN
How much do homes in Saint Louis Park, MN cost?
Median Sold Price
$375,000
$228/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Saint Louis Park have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Saint Louis Park was $375,000 in May 2024, up 2.7% from last year, and the median price per square foot was $228.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170.5K | $163.9K | -3.9% |
| 2 Bedrooms | $274.9K | $270K | -1.8% |
| 3 Bedrooms | $375K | $390K | +4.0% |
| 4 Bedrooms | $451K | $471.7K | +4.6% |
| 5+ Bedrooms | $692.1K | $625K | -9.7% |
Summary: Saint Louis Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.9%, 2 bedroom homes decreased by 1.8%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 4.6%, and 5+ bedroom homes decreased by 9.7%.
Median Sold Price Compared To Nearby Cities
| Hopkins | $346.5K | $369.8K | +6.8% |
| Minnetonka | $446K | $471.6K | +5.7% |
| Saint Louis Park | $365K | $375K | +2.7% |
| Edina | $579.8K | $588.1K | +1.4% |
| Golden Valley | $429.2K | $425K | -1.0% |
Housing Supply in Saint Louis Park, MN
How many homes are available in Saint Louis Park, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 183 | 232 | +26.8% |
Summary: The Saint Louis Park real estate market had 232 homes for sale in May 2024, a 26.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 19 | 24 | +26.3% |
| 2 Bedrooms | 63 | 68 | +7.9% |
| 3 Bedrooms | 56 | 83 | +48.2% |
| 4 Bedrooms | 32 | 42 | +31.3% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Saint Louis Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.3%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 48.2%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 52 | 0.0% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saint Louis Park, you could pay more than the asking price. 44.2% of homes here sold above asking price last month.
Summary: A total of 52 homes were sold or pending in Saint Louis Park in May 2024, the same as the previous month. Of the 52 sold homes, 38% were sold under asking, 17% were sold at asking, and 44% were sold over asking.
Days on Market for Saint Louis Park, MN
How long does it take to sell a home in Saint Louis Park, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 26 Days | +37.0% |
Summary: Homes in Saint Louis Park had an average of 26 days on market in May 2024, up by 37% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Saint Louis Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 52 homes were sold in Saint Louis Park; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
