Is Kanabec 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, Kanabec County has remained a Seller's Market.
Key Takeaway
Kanabec County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kanabec County, MN
How much do homes in Kanabec County, MN cost?
Median Sold Price
$268,500
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kanabec County have sold for 7.4% more than they did a year ago.
Summary: The median home sold price in Kanabec County was $268,500 in May 2024, up 7.4% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $198K | +14.8% |
| 2 Bedrooms | $205K | $235K | +14.6% |
| 3 Bedrooms | $249.9K | $278.9K | +11.6% |
| 4 Bedrooms | $259K | $245K | -5.4% |
| 5+ Bedrooms | $402.9K | $415K | +3.0% |
Summary: Kanabec County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.8%, 2 bedroom homes increased by 14.6%, 3 bedroom homes increased by 11.6%, 4 bedroom homes decreased by 5.4%, and 5+ bedroom homes increased by 3%.
Median Sold Price Compared To Nearby Counties
| Pine County | $236.8K | $265.6K | +12.2% |
| Kanabec County | $250K | $268.5K | +7.4% |
| Isanti County | $310K | $315K | +1.6% |
| Aitkin County | $265K | $268K | +1.1% |
| Mille Lacs County | $302.8K | $298.1K | -1.6% |
Housing Supply in Kanabec County, MN
How many homes are available in Kanabec County, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 49 | 59 | +20.4% |
Summary: The Kanabec County real estate market had 59 homes for sale in May 2024, a 20.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 11 | 14 | +27.3% |
| 3 Bedrooms | 21 | 23 | +9.5% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Kanabec County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 6 | 11 | +83.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kanabec 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 11 homes were sold or pending in Kanabec County in May 2024, up by 83.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 36% were sold at asking, and 18% were sold over asking.
Days on Market for Kanabec County, MN
How long does it take to sell a home in Kanabec County, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 72 Days | +250.0% |
Summary: Homes in Kanabec County had an average of 72 days on market in May 2024, up by 250% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Kanabec County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Kanabec County; 55% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
