Is Benton County, 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, Benton County has remained a Seller's Market.
Key Takeaway
Benton County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Benton County, MN
How much do homes in Benton County, MN cost?
Median Sold Price
$284,950
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Benton County have sold for 5.5% more than they did a year ago.
Summary: The median home sold price in Benton County was $284,950 in May 2024, up 5.5% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $127.5K | $150K | +17.6% |
| 2 Bedrooms | $230K | $245K | +6.5% |
| 3 Bedrooms | $262K | $275K | +5.0% |
| 4 Bedrooms | $280.9K | $300K | +6.8% |
| 5+ Bedrooms | $377.5K | $352.5K | -6.6% |
Summary: Benton County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 17.6%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes decreased by 6.6%.
Median Sold Price Compared To Nearby Counties
| Benton County | $270K | $284.9K | +5.5% |
| Morrison County | $235K | $246K | +4.7% |
| Sherburne County | $355.2K | $364.9K | +2.7% |
| Stearns County | $263.2K | $269.5K | +2.4% |
| Mille Lacs County | $302.8K | $298.1K | -1.6% |
Housing Supply in Benton County, MN
How many homes are available in Benton County, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 103 | 113 | +9.7% |
Summary: The Benton County real estate market had 113 homes for sale in May 2024, a 9.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 47 | 49 | +4.3% |
| 4 Bedrooms | 31 | 36 | +16.1% |
| 5+ Bedrooms | 13 | 15 | +15.4% |
Summary: The Benton County 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 10%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 16.1%, and 5+ bedroom homes increased by 15.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 25 | 25 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Benton County, you could pay more than the asking price. 40% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Benton County in May 2024, the same as the previous month. Of the 25 sold homes, 28% were sold under asking, 32% were sold at asking, and 40% were sold over asking.
Days on Market for Benton County, MN
How long does it take to sell a home in Benton County, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 31 Days | -19.6% |
Summary: Homes in Benton County had an average of 31 days on market in May 2024, down by 19.6% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Benton County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Benton County; 72% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
