Is Pipestone County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pipestone County is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Pipestone County has remained a Seller's Market.

Key Takeaway

Pipestone County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Pipestone County, MN

How much do homes in Pipestone County, MN cost?

Median Sold Price

$161,500

$92/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$6,500(+4.2%)

Key Takeaway

Homes in Pipestone County have sold for 4.2% more than they did a year ago.

Summary: The median home sold price in Pipestone County was $161,500 in May 2024, up 4.2% from last year, and the median price per square foot was $92.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $49.5K$48K
-3.0%
2 $100K$125K
+25.0%
3 $154K$165K
+7.1%
4 $220.4K$181K
-17.9%
5+ $285K$289K
+1.4%

Summary: Pipestone County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 7.1%, 4 bedroom homes decreased by 17.9%, and 5+ bedroom homes increased by 1.4%.

Median Sold Price Compared To Nearby Counties

Lincoln County
+9.2%
Pipestone County
+4.2%
Murray County
+4.0%
Rock County
-6.8%

Housing Supply in Pipestone County, MN

How many homes are available in Pipestone County, MN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3447+38.2%

Summary: The Pipestone County real estate market had 47 homes for sale in May 2024, a 38.2% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 812
+50.0%
3 1719
+11.8%
4 712
+71.4%
5+ 24
+100.0%

Summary: The Pipestone 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 increased by 50%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 71.4%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Apr 2024May 2024CHANGE
49+125.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pipestone County, you may be able to get a good deal. 44.4% of homes here sold below asking price last month.

Summary: A total of 9 homes were sold or pending in Pipestone County in May 2024, up by 125.0% month-over-month. Of the 9 sold homes, 44% were sold under asking, 22% were sold at asking, and 33% were sold over asking.

Days on Market for Pipestone County, MN

How long does it take to sell a home in Pipestone County, MN?

Average Sale Time

May 2023May 2024CHANGE
73 Days56 Days-22.4%

Summary: Homes in Pipestone County had an average of 56 days on market in May 2024, down by 22.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Pipestone County are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 9 homes were sold in Pipestone County; 67% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Pipestone County, MN

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