Is Freeborn 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, Freeborn County has remained a Seller's Market.
Key Takeaway
Freeborn County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Freeborn County, MN
How much do homes in Freeborn County, MN cost?
Median Sold Price
$160,200
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Freeborn County has remained the same since last year.
Summary: The median home sold price in Freeborn County was $160,200 in May 2024, up 0.2% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $96.5K | $95K | -1.6% |
| 2 Bedrooms | $134.9K | $115K | -14.8% |
| 3 Bedrooms | $159.9K | $153K | -4.3% |
| 4 Bedrooms | $227K | $206.5K | -9.1% |
| 5+ Bedrooms | $226K | $282K | +24.8% |
Summary: Freeborn County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1.6%, 2 bedroom homes decreased by 14.8%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 24.8%.
Median Sold Price Compared To Nearby Counties
| Waseca County | $211K | $240K | +13.7% |
| Mower County | $171.5K | $185.8K | +8.3% |
| Steele County | $260K | $269.9K | +3.8% |
| Freeborn County | $159.9K | $160.2K | 0.2% |
Housing Supply in Freeborn County, MN
How many homes are available in Freeborn County, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 93 | 105 | +12.9% |
Summary: The Freeborn County real estate market had 105 homes for sale in May 2024, a 12.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 21 | 23 | +9.5% |
| 3 Bedrooms | 45 | 50 | +11.1% |
| 4 Bedrooms | 20 | 26 | +30.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Freeborn County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 11.1%, 4 bedroom homes increased by 30%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 22 | +15.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Freeborn County, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Freeborn County in May 2024, up by 15.8% month-over-month. Of the 22 sold homes, 45% were sold under asking, 14% were sold at asking, and 41% were sold over asking.
Days on Market for Freeborn County, MN
How long does it take to sell a home in Freeborn County, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 67 Days | 28 Days | -57.0% |
Summary: Homes in Freeborn County had an average of 28 days on market in May 2024, down by 57% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Freeborn County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Freeborn County; 73% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
