Central Housing Market Report January 2025•Hennepin County, Minnesota

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Housing Prices in Central, MN

How much do homes in Central, MN cost?

Housing Market Conditions

Is Central, MN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Central is a Neutral Market

Difference Since January 2024

At the same time last year, Central was a Buyer's Market.

Insight

Central is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$365,000$312/SqFt
+$38,500
+11.8%

Based on all homes sold in the last 12 months

Insight

Homes in Central have sold for 11.8% more than they did a year ago.

Summary: The median home sold price in Central was $365,000 in January 2025, up 11.8% from last year, and the median price per square foot was $312.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
Downtown West
+28.2%
Central
+11.8%
Elliot Park
-2.3%
Stevens Square / Loring Heights
-4.5%
Loring Park
-6.3%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsJan 2024Jan 2025Change YoY
1$215.7K$248.5K
+15.2%
2$410K$425K
+3.7%
3$799K$780K
-2.4%
4$1.3M$987.5K
-28.2%
5--
N/A

Summary: Central housing price by bedroom type for January 2025, compared to the previous year. The home price for 1 bedroom homes increased by +15.2%. The home price for 2 bedroom homes increased by +3.7%. The home price for 3 bedroom homes decreased by -2.4%. The home price for 4 bedroom homes decreased by -28.2%. The home price for 5 bedroom homes did not change.

Housing supply in Central, MN

How many homes are available in Central, MN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
222Last MonthJan 2025
2002 months agoDec 2024
+11.0 %
Change MoMDec – Jan

Summary: The Central real estate market had 222 homes for sale in Jan 2025, a 11.0 % increase compared to Dec 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
34Last MonthJan 2025
382 months agoDec 2024
-10.5 %
Change MoMDec – Jan

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsDec 2024Jan 2025Change MoM
16373
+15.9%
2115122
+6.1%
31924
+26.3%
422
0.0%
511
0.0%

Summary: Central housing inventory by bedroom type for January 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +15.9%. The inventory for 2 bedroom homes increased by +6.1%. The inventory for 3 bedroom homes increased by +26.3%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Central, MN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price8 Homes

Under Asking Price24 Homes

Insight

If you're buying a home in Central, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in Central in January 2025, down by 10.5% month-over-month. Of the 34 sold homes, 71% were sold under asking, 24% were sold at asking, and and 6% were sold over asking.

Days on Market for Central, MN

How long does it take to sell a home in Central, MN?

Breakdown of Home Sale Times

Under 30 Days9 Homes

30 – 90 Days8 Homes

Over 90 Days17 Homes

Insight

Most homes in Central are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During January 2025, 34 homes were sold in Central; 26% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
94 DaysThis YearJan 2025
82 Days1 year agoJan 2024
+14.6 %
Change YoYJan 2024 – Jan 2025

Summary: Homes in Central had an average listing age of 94 days in Jan 2025, up by 14.6% compared to the previous year.

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Newest Listings in Central, MN

What homes are available in Central, MN?

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Last updated on: 2/8/2025, 11:52:48 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.