Is Cottage Grove, 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, Cottage Grove has remained a Seller's Market.
Key Takeaway
Cottage Grove is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cottage Grove, MN
How much do homes in Cottage Grove, MN cost?
Median Sold Price
$399,183
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Cottage Grove have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Cottage Grove was $399,183 in May 2024, up 1.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $333K | $205K | -38.4% |
| 2 Bedrooms | $260K | $280K | +7.7% |
| 3 Bedrooms | $370K | $368.3K | -0.5% |
| 4 Bedrooms | $460K | $440K | -4.3% |
| 5+ Bedrooms | $443.5K | $504.5K | +13.8% |
Summary: Cottage Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.4%, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 13.8%.
Median Sold Price Compared To Nearby Cities
| Cottage Grove | $394.5K | $399.1K | +1.2% |
| Saint Paul Park | $302.5K | $297K | -1.8% |
Housing Supply in Cottage Grove, MN
How many homes are available in Cottage Grove, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 233 | 287 | +23.2% |
Summary: The Cottage Grove real estate market had 287 homes for sale in May 2024, a 23.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 19 | 24 | +26.3% |
| 3 Bedrooms | 94 | 126 | +34.0% |
| 4 Bedrooms | 82 | 95 | +15.9% |
| 5+ Bedrooms | 37 | 41 | +10.8% |
Summary: The Cottage Grove housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 34%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 53 | -1.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cottage Grove, you could pay more than the asking price. 64.2% of homes here sold above asking price last month.
Summary: A total of 53 homes were sold or pending in Cottage Grove in May 2024, down by 1.9% month-over-month. Of the 53 sold homes, 17% were sold under asking, 19% were sold at asking, and 64% were sold over asking.
Days on Market for Cottage Grove, MN
How long does it take to sell a home in Cottage Grove, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 22 Days | 22 Days | +1.3% |
Summary: Homes in Cottage Grove had an average of 22 days on market in May 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cottage Grove are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 53 homes were sold in Cottage Grove; 77% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
