Is Brooklyn 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, Brooklyn Park has remained a Seller's Market.
Key Takeaway
Brooklyn Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Brooklyn Park, MN
How much do homes in Brooklyn Park, MN cost?
Median Sold Price
$338,501
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Brooklyn Park have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Brooklyn Park was $338,501 in May 2024, up 2.4% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $74K | $69.2K | -6.4% |
| 2 Bedrooms | $221.1K | $230K | +4.0% |
| 3 Bedrooms | $321.2K | $325K | +1.2% |
| 4 Bedrooms | $362K | $365K | +0.8% |
| 5+ Bedrooms | $442K | $470K | +6.3% |
Summary: Brooklyn Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 4%, 3 bedroom homes increased by 1.2%, 4 bedroom homes increased by 0.8%, and 5+ bedroom homes increased by 6.3%.
Median Sold Price Compared To Nearby Cities
| Osseo | $410K | $515K | +25.6% |
| Brooklyn Center | $276K | $295K | +6.9% |
| Coon Rapids | $309.9K | $325K | +4.8% |
| Brooklyn Park | $330.6K | $338.5K | +2.4% |
| Champlin | $367.4K | $364K | -0.9% |
Housing Supply in Brooklyn Park, MN
How many homes are available in Brooklyn Park, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 249 | 277 | +11.2% |
Summary: The Brooklyn Park real estate market had 277 homes for sale in May 2024, a 11.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 12 | 13 | +8.3% |
| 2 Bedrooms | 44 | 50 | +13.6% |
| 3 Bedrooms | 75 | 89 | +18.7% |
| 4 Bedrooms | 83 | 84 | +1.2% |
| 5+ Bedrooms | 35 | 41 | +17.1% |
Summary: The Brooklyn Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 13.6%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes increased by 17.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 75 | +4.2% |
Asking Price vs. Sold Price
21 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
38 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Brooklyn Park, you could pay more than the asking price. 50.7% of homes here sold above asking price last month.
Summary: A total of 75 homes were sold or pending in Brooklyn Park in May 2024, up by 4.2% month-over-month. Of the 75 sold homes, 28% were sold under asking, 21% were sold at asking, and 51% were sold over asking.
Days on Market for Brooklyn Park, MN
How long does it take to sell a home in Brooklyn Park, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 26 Days | +3.0% |
Summary: Homes in Brooklyn Park had an average of 26 days on market in May 2024, up by 3% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
21 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Brooklyn Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 75 homes were sold in Brooklyn Park; 68% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
