Is Dakota County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Dakota County has remained a Seller's Market.
Key Takeaway
Dakota County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dakota County, MN
How much do homes in Dakota County, MN cost?
Median Sold Price
$385,597
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Dakota County have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Dakota County was $385,597 in April 2024, up 4.2% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150K | $149K | -0.7% |
| 2 Bedrooms | $250K | $260K | +4.0% |
| 3 Bedrooms | $349.9K | $363.3K | +3.8% |
| 4 Bedrooms | $435.4K | $455K | +4.5% |
| 5+ Bedrooms | $565.4K | $559.8K | -1.0% |
Summary: Dakota County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Counties
| Rice County | $308.4K | $325.2K | +5.4% |
| Dakota County | $369.9K | $385.5K | +4.2% |
| Ramsey County | $309.4K | $315.7K | +2.0% |
| Scott County | $411.7K | $410K | -0.4% |
| Washington County | $413.6K | $410.3K | -0.8% |
Housing Supply in Dakota County, MN
How many homes are available in Dakota County, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,596 | 1,850 | +15.9% |
Summary: The Dakota County real estate market had 1,850 homes for sale in April 2024, a 15.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 26 | +23.8% |
| 2 Bedrooms | 295 | 349 | +18.3% |
| 3 Bedrooms | 555 | 629 | +13.3% |
| 4 Bedrooms | 456 | 523 | +14.7% |
| 5+ Bedrooms | 269 | 323 | +20.1% |
Summary: The Dakota County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 23.8%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 20.1%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 420 | 413 | -1.7% |
Asking Price vs. Sold Price
127 Homes Were Sold
Under Asking
95 Homes Were Sold
At Asking
191 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dakota County, you could pay more than the asking price. 46.2% of homes here sold above asking price last month.
Summary: A total of 413 homes were sold or pending in Dakota County in April 2024, down by 1.7% month-over-month. Of the 413 sold homes, 31% were sold under asking, 23% were sold at asking, and 46% were sold over asking.
Days on Market for Dakota County, MN
How long does it take to sell a home in Dakota County, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 28 Days | 28 Days | -0.8% |
Summary: Homes in Dakota County had an average of 28 days on market in Apr 2024, down by 0.8% compared to last year.
Breakdown of Home Sale Times
292 Homes Were Sold
Under 30 Days
84 Homes Were Sold
In 30 - 90 Days
31 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dakota County are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 413 homes were sold in Dakota County; 71% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
