Is Palmer Township, 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, Palmer Township has remained a Neutral Market.
Key Takeaway
Palmer Township 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 Palmer Township, MN
How much do homes in Palmer Township, MN cost?
Median Sold Price
$410,000
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmer Township have sold for 1.2% more than they did a year ago.
Summary: The median home sold price in Palmer Township was $410,000 in May 2024, up 1.2% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $357.5K | $399.9K | +11.9% |
| 2 Bedrooms | $402.5K | $413K | +2.6% |
| 3 Bedrooms | $355K | $390K | +9.9% |
| 4 Bedrooms | $487.9K | $482.5K | -1.1% |
| 5+ Bedrooms | $820K | $435K | -47.0% |
Summary: Palmer Township housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.9%, 2 bedroom homes increased by 2.6%, 3 bedroom homes increased by 9.9%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 47%.
Median Sold Price Compared To Nearby Cities
| Palmer Township | $405K | $410K | +1.2% |
| Clear Lake Township | $379.7K | $365K | -3.9% |
| Santiago Township | $435K | $395K | -9.2% |
Housing Supply in Palmer Township, MN
How many homes are available in Palmer Township, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 14 | +40.0% |
Summary: The Palmer Township real estate market had 14 homes for sale in May 2024, a 40.0% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 0 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 3 | +200.0% |
Summary: The Palmer Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 200%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmer Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Palmer Township in May 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Palmer Township, MN
How long does it take to sell a home in Palmer Township, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 40 Days | 56 Days | +39.5% |
Summary: Homes in Palmer Township had an average of 56 days on market in May 2024, up by 39.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Palmer Township has remained consistent over time.
Summary: During May 2024, 2 homes were sold in Palmer Township; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
