Updated October 2026. This Bloomington page is about price: how to value your home when you sell by owner, how the city’s assessor value differs from an appraisal, and what to do if the buyer’s appraisal comes in low. Figures from Zillow, the City of Bloomington, the Census Bureau and Minnesota statutes, read October 27, 2026.
Yes, you can sell your Bloomington, MN home by owner, and the price you set does most of the work. As of October 2026, the typical Bloomington home is worth $360,000 (Zillow, September 2026), up 1.0% in a year. Your city assessor’s value is set as of January 2 and isn’t an appraisal. If the buyer finances, their lender orders the appraisal that decides the loan.
Jump to: 💲 Setting the price · 🏢 Assessor vs appraisal · 🤝 Low appraisals · 📍 Minnesota rules · ❓ FAQ
Key takeaways
- Bloomington’s typical value was $360,000 in September 2026, between Richfield at $342,700 and Eden Prairie at $499,700 (Zillow).
- The city values about 32,000 parcels as of January 2 each year, using sales from the prior October to September, so your notice can lag the market.
- About 60% of Bloomington’s housing units were built from 1950 to 1979 (Census ACS 2024), so similar-looking homes nearby make good comps.
- Minnesota’s deed tax is 0.33% of the price, about $1,188 on $360,000, plus 0.01% in Hennepin County.
Most Bloomington owners who search “FSBO appraisal” want one of two answers: what their house is worth before they list, or what happens when the buyer’s appraisal doesn’t match the contract. Both are below. For a quick sale and the full cost picture, read our guide to selling a Bloomington home fast without a realtor.
How do you price a Bloomington home when you sell by owner?
Start with closed sales, not asking prices. Look for homes that sold in the last three to six months within about a mile of yours, with similar size, bedrooms, baths, garage and condition. Bloomington helps here: its housing was mostly built in the same few decades, so you’ll often find ramblers and split-levels close to yours.
| City | County | Typical value, Sept 2026 | 1-year change |
|---|---|---|---|
| Minneapolis | Hennepin | $328,400 | +0.7% |
| Richfield | Hennepin | $342,700 | +1.6% |
| Bloomington | Hennepin | $360,000 | +1.0% |
| Burnsville | Dakota | $364,900 | +2.1% |
| Eden Prairie | Hennepin | $499,700 | +2.5% |
| Edina | Hennepin | $624,600 | +4.3% |
A citywide typical value is a starting point, not your price. East and west Bloomington, homes near the river bluffs and homes near I-494 all trade differently. Adjust each comp for what’s different: an updated kitchen, a finished basement, a newer roof, a smaller lot. Then pick a price you can defend line by line.
Two tools help. Get a home value estimate for your Bloomington house, then build a simple comparative market analysis from sold homes. Our CMA guide walks through the adjustments.
Should you order a pre-listing appraisal?
It’s optional. A licensed appraiser gives you a written, independent value you can show buyers, which helps if your home is unusual or comps are thin. You can check any appraiser’s license on the Minnesota Department of Commerce’s license lookup. Keep in mind that a buyer’s lender won’t use your appraisal; it orders its own.
Is the Bloomington assessor’s value the same as an appraisal?
No. The City of Bloomington’s Assessing Division values about 32,000 parcels for property tax. Its appraisers visit every property at least once every five years and use mass appraisal, which values many homes from many sales at once. It doesn’t price your house the way a buyer would.
Timing is the bigger gap. The city’s notices arrive in March and show value as of January 2. That value is built from sales between October and September of the year before. The city also leaves out sales that aren’t open-market, like foreclosures and sales between relatives. In a moving market, your notice can sit above or below what a buyer pays today.
So use the assessor’s estimated market value as a sanity check, not as your list price. Hennepin County’s property information search shows it with your taxes and parcel ID. Our guide to finding your Minnesota property tax ID and parcel ID shows where to look.
What happens if the buyer’s appraisal comes in low?
When a buyer uses a mortgage, the lender orders an appraisal after you sign. If it comes in under the contract price, the lender lends on the lower value. Someone has to cover the gap. Your contract’s appraisal and financing terms say what each side can do.
| Option | What it means | When it fits |
|---|---|---|
| Lower the price | You meet the appraised value | The comps support the appraiser |
| Split the gap | Price drops part of the way; buyer adds cash | Both sides want the deal |
| Buyer covers it | Buyer pays the difference in cash | Buyer has savings and loves the house |
| Challenge it | Send the lender better comps through the buyer | The appraiser missed a clear sale or feature |
| Cancel | The contract ends per its terms | No one will move |
You can lower the odds of a gap before it starts. Price from recent sales the appraiser will also find. Leave a list of upgrades with dates and costs for the appraiser. Ask for a strong down payment or proof of funds, which gives the buyer room if the number comes in short. Cash buyers skip the lender appraisal, which is one reason they can close faster.
Selling fast in Bloomington
Speed comes from price and reach. A home priced right on day one, listed on NorthstarMLS and shown to every buyer’s agent tends to sell faster than one that starts high and cuts. Nationally, homes spent a median of 33 days on the market in September 2026 (NAR). Price close to your comps if you need to move quickly.
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On homes listed by other agents, Beycome credits you up to 2% of the price at closing (1% kept, $1,499 minimum; not on FSBO homes or homes listed by Beycome sellers).
Buy a home →What does Minnesota require from a seller?
- A written disclosure of material facts you know about, before the buyer signs (Minn. Stat. 513.55).
- A well disclosure, even if you know of no wells (Minn. Stat. 103I.235).
- The federal lead disclosure and EPA pamphlet for homes built before 1978.
- Deed tax of 0.33% of the price (Minn. Stat. 287.21), plus Hennepin County’s 0.01% (Minn. Stat. 383B.80).
On $360,000, that’s about $1,188 in state deed tax and $36 more in Hennepin County. Here’s how that compares across the state if you sell your Minnesota home without a realtor. Radon, septic and other items may apply too. For the contract, use Drafting a For Sale By Owner (FSBO) Contract in Minnesota. For general background on fair housing and buyer protections, see these federal housing resources for home sellers and buyers.
Do you need an agent to sell in Bloomington?
No, it’s not required; it’s your choice. An agent prices, markets and negotiates, including appraisal gaps, for a fee. Selling by owner, you do that work and keep the fee. Plenty of sellers land in between, with a flat fee MLS listing and help only where they want it. Our guides on selling your home by owner with confidence and listing your home FSBO cover both paths.
How does Beycome help Bloomington sellers?
Selling a house by owner in Bloomington, MN with Beycome starts with a flat fee MLS listing for Minnesota sellers on NorthstarMLS: Basic $99, Enhanced $399, $0 to Beycome at closing. You get the most photos the MLS allows, the longest term the state and MLS allow, e-signature, unlimited changes, ShowingTime where available and Artur AI for offer help. Concierge adds experts who negotiate, appraisal gaps included, while you keep every decision, at $1,399.
Beycome has helped 22,000+ homeowners save over $225 million. If you’re selling a home by owner in Bloomington, MN and want to compare providers, see our Minnesota flat fee MLS company rankings and our Minneapolis flat fee MLS comparison.
Frequently Asked Questions About Selling a House by Owner in Bloomington, MN
Is selling a house by owner legal in Bloomington, MN?
Yes. Minnesota doesn’t require an agent. You need a written purchase agreement, the seller disclosure and well disclosure, and a proper closing, usually through a title company.
Do I need a real estate attorney to sell my home by owner in Minnesota?
No, it isn’t required. Many FSBO sellers pay an attorney to review the purchase agreement, especially the appraisal and financing terms.
How do I get my home on the MLS without a real estate agent?
Use a flat fee MLS broker. Beycome lists Bloomington homes on NorthstarMLS from $99; a complete, correct file goes live within 2 business days, often in about 2 hours.
What disclosures are required when selling a home by owner in Minnesota?
A written disclosure of known material facts before signing (513.55), a well disclosure (103I.235), and the federal lead disclosure for homes built before 1978.
Should I offer a buyer’s agent commission when selling by owner in Bloomington?
It’s your choice and negotiable. Since August 17, 2024, such offers can’t be shown on the MLS; you agree on any amount in writing with the buyer’s agent.
How long does it take to sell a house by owner in Bloomington, MN?
It depends on price and condition. Nationally, homes sold in a median of 33 days in September 2026 (NAR), plus about a month to close with a loan.
What is the biggest challenge of selling a house by owner?
Pricing, and handling a low appraisal. Sold comps, an upgrade list for the appraiser and clear contract terms make both easier.
Can I still use a buyer’s agent even if I am selling by owner?
The buyer can. You don’t have a listing agent, but the buyer may bring their own, and you work with that agent on showings and offers.
How do I handle home showings when selling by owner in Bloomington?
Set showing windows, approve requests from your phone and use a lockbox for agent-led tours. Beycome includes ShowingTime where the MLS offers it.
Prices as of October 2026. “$0 at closing” means no Beycome fee at closing; deed tax, title fees, other closing costs and any buyer-agent compensation you agree to still apply. Listing term: the maximum the state and MLS allow (24 months; 12 in MD and PA). Cancel free: no cancellation fee (Georgia MLS charges $25); listings under contract can’t be canceled; no refund once listed. Go-live time applies to complete, correct files. Concierge $1,399. Deed tax figures are estimates; your closing agent confirms the amount. General information, not legal or appraisal advice; rules vary by state, county and MLS.
Sources
- Zillow Research, ZHVI, September 2026 (Bloomington, Minneapolis, Richfield, Burnsville, Eden Prairie, Edina).
- City of Bloomington, Assessing Division and sales trends, read October 27, 2026.
- Census Bureau, ACS 2024, Bloomington year built and tenure (via Census Reporter).
- Minn. Stat. 287.21, deed tax and Minn. Stat. 383B.80, Hennepin County deed tax.
- Minn. Stat. 513.55, seller disclosure and Minn. Stat. 103I.235, well disclosure.
- NAR, Existing-Home Sales, September 2026, and NAR, Settlement FAQs.
- Beycome, listing package features, October 2026.
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