Is Hopkins, 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, Hopkins has remained a Seller's Market.
Key Takeaway
Hopkins is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hopkins, MN
How much do homes in Hopkins, MN cost?
Median Sold Price
$369,888
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hopkins have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Hopkins was $369,888 in May 2024, up 6.8% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $149.9K | -3.3% |
| 2 Bedrooms | $250.5K | $255K | +1.8% |
| 3 Bedrooms | $375K | $406.5K | +8.4% |
| 4 Bedrooms | $522.5K | $537.8K | +2.9% |
| 5+ Bedrooms | $815.8K | $671K | -17.8% |
Summary: Hopkins housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 17.8%.
Median Sold Price Compared To Nearby Cities
| Hopkins | $346.5K | $369.8K | +6.8% |
| Minnetonka | $446K | $471.6K | +5.7% |
| Saint Louis Park | $365K | $375K | +2.7% |
| Edina | $579.8K | $588.1K | +1.4% |
Housing Supply in Hopkins, MN
How many homes are available in Hopkins, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 172 | 178 | +3.5% |
Summary: The Hopkins real estate market had 178 homes for sale in May 2024, a 3.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 28 | +7.7% |
| 2 Bedrooms | 47 | 52 | +10.6% |
| 3 Bedrooms | 49 | 42 | -14.3% |
| 4 Bedrooms | 28 | 38 | +35.7% |
| 5+ Bedrooms | 22 | 18 | -18.2% |
Summary: The Hopkins housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 10.6%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes decreased by 18.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 43 | -23.2% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hopkins, you could pay more than the asking price. 46.5% of homes here sold above asking price last month.
Summary: A total of 43 homes were sold or pending in Hopkins in May 2024, down by 23.2% month-over-month. Of the 43 sold homes, 35% were sold under asking, 19% were sold at asking, and 47% were sold over asking.
Days on Market for Hopkins, MN
How long does it take to sell a home in Hopkins, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 26 Days | +41.2% |
Summary: Homes in Hopkins had an average of 26 days on market in May 2024, up by 41.2% compared to last year.
Breakdown of Home Sale Times
30 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hopkins are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 43 homes were sold in Hopkins; 70% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
