Is Mendota Heights, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Mendota Heights was a Seller's Market.
Key Takeaway
Mendota Heights is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mendota Heights, MN
How much do homes in Mendota Heights, MN cost?
Median Sold Price
$523,500
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Mendota Heights have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Mendota Heights was $523,500 in April 2024, up 4.7% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $350K | $525K | +50.0% |
| 2 Bedrooms | $353K | $271K | -23.2% |
| 3 Bedrooms | $505K | $509.9K | +1.0% |
| 4 Bedrooms | $575K | $667.5K | +16.1% |
| 5+ Bedrooms | $678K | $625K | -7.8% |
Summary: Mendota Heights housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 50%, 2 bedroom homes decreased by 23.2%, 3 bedroom homes increased by 1%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes decreased by 7.8%.
Median Sold Price Compared To Nearby Cities
| Mendota Heights | $500K | $523.5K | +4.7% |
| Lilydale | $480K | $390K | -18.8% |
Housing Supply in Mendota Heights, MN
How many homes are available in Mendota Heights, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 43 | 46 | +7.0% |
Summary: The Mendota Heights real estate market had 46 homes for sale in April 2024, a 7.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 2 | +100.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 9 | 9 | 0.0% |
Summary: The Mendota Heights housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 6 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendota Heights, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Mendota Heights in April 2024, down by 25.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Mendota Heights, MN
How long does it take to sell a home in Mendota Heights, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 10 Days | 38 Days | +274.3% |
Summary: Homes in Mendota Heights had an average of 38 days on market in Apr 2024, up by 274.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Mendota Heights are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Mendota Heights; 83% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
