Is Eagan, 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, Eagan has remained a Seller's Market.
Key Takeaway
Eagan is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Eagan, MN
How much do homes in Eagan, MN cost?
Median Sold Price
$380,023
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Eagan have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Eagan was $380,023 in May 2024, up 1.4% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $174K | $161.5K | -7.2% |
| 2 Bedrooms | $245K | $245K | 0.0% |
| 3 Bedrooms | $350K | $375K | +7.1% |
| 4 Bedrooms | $450K | $452.2K | 0.5% |
| 5+ Bedrooms | $587K | $587.4K | 0.1% |
Summary: Eagan housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.2%, 2 bedroom homes did not change, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 0.1%.
Median Sold Price Compared To Nearby Cities
| Inver Grove Heights | $333.9K | $362.4K | +8.5% |
| Apple Valley | $350K | $369.1K | +5.5% |
| Mendota Heights | $500K | $525K | +5.0% |
| Eagan | $374.7K | $380K | +1.4% |
Housing Supply in Eagan, MN
How many homes are available in Eagan, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 197 | 254 | +28.9% |
Summary: The Eagan real estate market had 254 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 4 | -33.3% |
| 2 Bedrooms | 41 | 55 | +34.1% |
| 3 Bedrooms | 64 | 76 | +18.8% |
| 4 Bedrooms | 54 | 65 | +20.4% |
| 5+ Bedrooms | 32 | 54 | +68.8% |
Summary: The Eagan housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 34.1%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 20.4%, and 5+ bedroom homes increased by 68.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 60 | 72 | +20.0% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Eagan, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 72 homes were sold or pending in Eagan in May 2024, up by 20.0% month-over-month. Of the 72 sold homes, 29% were sold under asking, 26% were sold at asking, and 44% were sold over asking.
Days on Market for Eagan, MN
How long does it take to sell a home in Eagan, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 17 Days | -38.7% |
Summary: Homes in Eagan had an average of 17 days on market in May 2024, down by 38.7% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Eagan are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 72 homes were sold in Eagan; 79% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.
