Plymouth currently leans toward a seller’s market, with a market gauge reading of 15. Homes sit at a typical value of about $405,000, higher than Hennepin County’s $375,000. Inventory is relatively tight, with just 108 homes available and only 2.1 months of supply, which limits options for buyers.
Several trends help explain this seller tilt. Inventory has fallen about 26% compared to last year, and new listings are down a similar 26.36%, so fewer properties are coming on the market even as 81 new listings appeared recently. At the same time, pending sales have dropped 37.17% year over year, and the median days on market has jumped to 70 days, up more than 268% from a year ago, signaling that buyers are taking more time and being selective.
Pricing patterns show a mix of firmness and flexibility. The median list price sits around $549,500 and is projected to edge higher to about $599,250, yet roughly 17.6% of listings have price drops and homes are selling for about 98.5% of list on average, with only 17.3% closing above asking. With typical home values expected to shift to about $346,250 and inventory projected at 107 homes next month, both buyers and sellers in Plymouth can benefit from an experienced local agent, and Agent Pronto can connect them with the right one.
