Is Martin County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Martin County was a Seller's Market.
Key Takeaway
Martin County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Martin County, MN
How much do homes in Martin County, MN cost?
Median Sold Price
$160,000
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Martin County have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in Martin County was $160,000 in May 2024, up 10.2% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $61.6K | $80K | +29.8% |
| 2 Bedrooms | $108.9K | $108.5K | -0.4% |
| 3 Bedrooms | $145.1K | $170K | +17.1% |
| 4 Bedrooms | $185K | $264.9K | +43.2% |
| 5+ Bedrooms | $156K | $254.9K | +63.4% |
Summary: Martin County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.8%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 43.2%, and 5+ bedroom homes increased by 63.4%.
Median Sold Price Compared To Nearby Counties
| Watonwan County | $170K | $198K | +16.5% |
| Martin County | $145.1K | $160K | +10.2% |
| Faribault County | $127K | $137.2K | +8.1% |
Housing Supply in Martin County, MN
How many homes are available in Martin County, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 84 | +5.0% |
Summary: The Martin County real estate market had 84 homes for sale in May 2024, a 5.0% 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 | 27 | 23 | -14.8% |
| 3 Bedrooms | 29 | 31 | +6.9% |
| 4 Bedrooms | 17 | 21 | +23.5% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The Martin 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 decreased by 14.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 23.5%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 14 | -26.3% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Martin County, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Martin County in May 2024, down by 26.3% month-over-month. Of the 14 sold homes, 43% were sold under asking, 14% were sold at asking, and 43% were sold over asking.
Days on Market for Martin County, MN
How long does it take to sell a home in Martin County, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 59 Days | +199.3% |
Summary: Homes in Martin County had an average of 59 days on market in May 2024, up by 199.3% compared to last year.
Breakdown of Home Sale Times
9 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 Martin County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Martin County; 64% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
