In July, Hennepin County saw a 8.7% increase in new listings, a 0.3% decrease in home sales and a 11.6% increase in median sales price as compared to the same time last year.
Overall, Hennepin County saw just a 4.2% decrease in new listings and a 2.7% decrease in closed sales.
Median sales prices, average sales price and price per square foot all increased. As did the percentage of original list price decreased slightly from 99.7% in 2019 to 100.1% in 2020. Days on the market held steady at 40, and home inventory dropped from 4,103 to 3,273.
Eden Prairie
Eden Prairie saw a 16.4% decrease in new listings, no change in closed sales, and a 5.5% increase in median sales price as compared to July of last year.
Over the past 12 months, Eden Prairie saw a 15.1% decrease in new listings, a 11.8% decrease in closed sales, and a 5.5% increase in the median sales price.
The average sales price is up by 11.5% and, the per square foot price increased by 2.6%. Percent of original list price decreased by 0.4% from 99.2% to 98.8%. Days on the market have increased from 38 days to 49 days on the market.
Chanhassen
New listings in Chanhassen are up by 10.2% from 59 to 65. Closed sales are down 5.2% from 58 to 55, and the median sales price is up 13.1% from $437,500 in 2019 to $495,000 in 2020.
Sales and home prices decreased. Home prices increased slightly per square foot from $180 to $187 and a slight increase in the percent of original list price from 97.5% in the months leading up to July 2019 to 99.0% in the months leading up to July 2020.
Edina
The median sales price of homes in Edina decreased by 4.8% from $470,000 in 2019 to $447,500 in 2020. The average sales price increased by 3.2% from $609,518 in 2019 to $629,042 in 2020, while the price per square foot increased from $220 in 2019 to $225 in 2020.
Excelsior
Excelsior saw a 40% decrease in new listings between July 2019 and July 2020. Median Sales price increased from $551,000 to $849,000 (53.9%). Price per square foot increased from $351 to $374 and inventory increased from 19 to 21.
Minnetonka
Overall, Minnetonka has seen a 12.3% increase in median sales price – from $377,500 in 2019 to $424,000 in 2020. The average sales price increased by 3.0% – from $436,100 in 2019 to $448,967 in 2020. The price per square foot is down 0.4% from $182 to $181.
Saint Louis Park
New listings are up 15% in St. Louis Park compared to a year ago. Closed sales are up 40% from 90 in July of 2019 to 126 in 2020. The median sales price is up 11.9% from $305,500 to $342,000 and the average sales price is up 5.7% from $327,738 to $346,514.
Shakopee
Shakopee’s new listings in July were up 27.4% from July of 2019. Median sales prices increased by 5.8%, and the average sales prices increased, 7.1% from $293,000 a year ago to $314,350 in July of 2020.
At Helgeson Platzke Real Estate Group, we are proud to be a member of Eden Prairie’s esteemed small business community. Since 1995, we’ve offered the very best in Twin Cities real estate, earning our community’s trust as the #1 Sales Team in the Eden Prairie area. With over 4,500 homes sold, our staff has both the knowledge and experience necessary to ensure that your homeownership goals are delivered. If you’re considering buying or selling your Eden Prairie area home this year, now is the time to enlist the help of a real estate professional who can help you make the most of the market no matter the situation.