Is Itasca 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, Itasca County has remained a Seller's Market.
Housing Prices in Itasca County, MN
How much do homes in Itasca County, MN cost?
Median Sold Price
$250,000
$156/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Itasca County was $250,000 in May 2024, up 6.4% from last year, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $149.9K | $147.5K | -1.6% |
2 Bedrooms | $190K | $209.5K | +10.3% |
3 Bedrooms | $234.7K | $235K | 0.1% |
4 Bedrooms | $285.5K | $325K | +13.8% |
5+ Bedrooms | $336.5K | $387.5K | +15.2% |
Summary: Itasca 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 increased by 10.3%, 3 bedroom homes increased by 0.1%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 15.2%.
Median Sold Price Compared To Nearby Counties
Saint Louis County | $219.4K | $250.3K | +14.1% |
Itasca County | $235K | $250K | +6.4% |
Koochiching County | $148.5K | $156K | +5.1% |
Aitkin County | $265K | $268K | +1.1% |
Cass County | $333.7K | $325K | -2.6% |
Housing Supply in Itasca County, MN
How many homes are available in Itasca County, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
169 | 208 | +23.1% |
Summary: The Itasca County real estate market had 208 homes for sale in May 2024, a 23.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 5 | 7 | +40.0% |
2 Bedrooms | 42 | 52 | +23.8% |
3 Bedrooms | 79 | 91 | +15.2% |
4 Bedrooms | 29 | 39 | +34.5% |
5+ Bedrooms | 14 | 19 | +35.7% |
Summary: The Itasca County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 23.8%, 3 bedroom homes increased by 15.2%, 4 bedroom homes increased by 34.5%, and 5+ bedroom homes increased by 35.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
36 | 40 | +11.1% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 40 homes were sold or pending in Itasca County in May 2024, up by 11.1% month-over-month. Of the 40 sold homes, 57% were sold under asking, 23% were sold at asking, and 20% were sold over asking.
Days on Market for Itasca County, MN
How long does it take to sell a home in Itasca County, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
36 Days | 61 Days | +69.5% |
Summary: Homes in Itasca County had an average of 61 days on market in May 2024, up by 69.5% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During May 2024, 40 homes were sold in Itasca County; 53% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.