Market Trends for Dakota County

April, 2023

As of April 2023, Dakota County, Minnesota is experiencing a seller’s market with a 1.49 month supply of inventory. This indicates that the demand for homes in the area is outpacing the supply, making it a favorable environment for sellers. The median sold price of single family homes in Dakota County in April is $416,400.00, off only .71% month over month. 

The Median Estimated Value is calculated using properties with an RVM® or AVM estimated value, sourced by public records and MLS data. 

 

Dakota County real estate market trends April 2023

In April 2023, there were 418 new listings that entered the market in Dakota County, with a median list price of $486,630.00. This indicates a healthy rate of new inventory entering the market at a relatively high price point.

There were 490 active listings on the last day of April 2023, with a median list price of $564,900.00. This indicates a relatively low level of inventory, which could contribute to the seller’s market conditions.

There were 419 pending listings on the last day of April 2023, with a median list price of $465,000.00. This indicates a healthy amount of inventory waiting to close.

In April 2023, there were 244 sold listings in Dakota County with a median sold price of $426,950.00. This reveals that buyers are paying around the median list price for homes in the area.


This graphic summarizes key statistics for properties that sold each month. RPR uses a derived sold date to determine when a property moved into a sold status within the given month. These statistics are important for understanding the price points on sold properties as well as the difference between the list price and sold price, which reveals whether buyers are paying over or under the asking price.

Overall, the real estate market in Dakota County, Minnesota is currently favoring sellers, with low inventory leading to a seller’s market. The market is seeing a healthy rate of new inventory entering at relatively high price points, and buyers are paying around the median list price for homes. It will be interesting to see how these trends evolve in the coming months.

Resourceful buyers are still starting or upgrading amid the changes in affordability over the past year.

 

Please call when you are ready to take the next step toward buying or selling a home in the Twin Cities.