Is Rice 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, Rice County has remained a Seller's Market.
Housing Prices in Rice County, MN
How much do homes in Rice County, MN cost?
Median Sold Price
$329,316
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Rice County was $329,316 in May 2024, up 4.6% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $176K | $120.9K | -31.3% |
2 Bedrooms | $249.9K | $236.5K | -5.4% |
3 Bedrooms | $279.3K | $304.5K | +9.0% |
4 Bedrooms | $370K | $379.9K | +2.7% |
5+ Bedrooms | $400K | $449.5K | +12.4% |
Summary: Rice County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.3%, 2 bedroom homes decreased by 5.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 12.4%.
Median Sold Price Compared To Nearby Counties
Waseca County | $211K | $240K | +13.7% |
Rice County | $314.9K | $329.3K | +4.6% |
Steele County | $260K | $269.9K | +3.8% |
Le Sueur County | $285K | $284.9K | 0% |
Scott County | $409.7K | $409.5K | 0% |
Housing Supply in Rice County, MN
How many homes are available in Rice County, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
235 | 259 | +10.2% |
Summary: The Rice County real estate market had 259 homes for sale in May 2024, a 10.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 5 | +25.0% |
2 Bedrooms | 41 | 43 | +4.9% |
3 Bedrooms | 93 | 97 | +4.3% |
4 Bedrooms | 60 | 78 | +30.0% |
5+ Bedrooms | 37 | 36 | -2.7% |
Summary: The Rice County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 4.3%, 4 bedroom homes increased by 30%, and 5+ bedroom homes decreased by 2.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
76 | 54 | -28.9% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
12 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Summary: A total of 54 homes were sold or pending in Rice County in May 2024, down by 28.9% month-over-month. Of the 54 sold homes, 35% were sold under asking, 22% were sold at asking, and 43% were sold over asking.
Days on Market for Rice County, MN
How long does it take to sell a home in Rice County, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
43 Days | 32 Days | -26.2% |
Summary: Homes in Rice County had an average of 32 days on market in May 2024, down by 26.2% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During May 2024, 54 homes were sold in Rice County; 61% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.