Is Redwood 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, Redwood County was a Buyer's Market.
Housing Prices in Redwood County, MN
How much do homes in Redwood County, MN cost?
Median Sold Price
$149,250
$90/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Redwood County was $149,250 in May 2024, up 8.8% from last year, and the median price per square foot was $90.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $20K | - | N/A |
2 Bedrooms | $84K | $102.7K | +22.3% |
3 Bedrooms | $137.4K | $147K | +7.0% |
4 Bedrooms | $179.9K | $175.5K | -2.4% |
5+ Bedrooms | $175.1K | $275K | +57.0% |
Summary: Redwood County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 22.3%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 2.4%, and 5+ bedroom homes increased by 57%.
Median Sold Price Compared To Nearby Counties
Brown County | $165K | $188.2K | +14.1% |
Redwood County | $137.2K | $149.2K | +8.8% |
Yellow Medicine County | $135K | $146.2K | +8.3% |
Renville County | $147K | $155K | +5.4% |
Cottonwood County | $165K | $159K | -3.6% |
Housing Supply in Redwood County, MN
How many homes are available in Redwood County, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
48 | 53 | +10.4% |
Summary: The Redwood County real estate market had 53 homes for sale in May 2024, a 10.4% 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 | 6 | 6 | 0.0% |
3 Bedrooms | 21 | 26 | +23.8% |
4 Bedrooms | 16 | 16 | 0.0% |
5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Redwood 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 remained the same, 3 bedroom homes increased by 23.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 10 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Redwood County in May 2024, down by 9.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 10% were sold at asking, and 30% were sold over asking.
Days on Market for Redwood County, MN
How long does it take to sell a home in Redwood County, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
17 Days | 87 Days | +415.3% |
Summary: Homes in Redwood County had an average of 87 days on market in May 2024, up by 415.3% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 10 homes were sold in Redwood County; 30% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.