Is Wadena 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, Wadena County was a Neutral Market.
Housing Prices in Wadena County, MN
How much do homes in Wadena County, MN cost?
Median Sold Price
$195,000
$116/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wadena County was $195,000 in May 2024, up 5.4% from last year, and the median price per square foot was $116.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $52.5K | $89.5K | +70.5% |
2 Bedrooms | $160K | $161K | +0.6% |
3 Bedrooms | $178K | $185K | +3.9% |
4 Bedrooms | $204.5K | $247.7K | +21.1% |
5+ Bedrooms | $315K | $291.2K | -7.5% |
Summary: Wadena County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 70.5%, 2 bedroom homes increased by 0.6%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes decreased by 7.5%.
Median Sold Price Compared To Nearby Counties
Hubbard County | $267.8K | $312K | +16.5% |
Otter Tail County | $245.6K | $284.9K | +16.0% |
Wadena County | $185K | $195K | +5.4% |
Todd County | $199.4K | $202.9K | +1.7% |
Cass County | $333.7K | $325K | -2.6% |
Housing Supply in Wadena County, MN
How many homes are available in Wadena County, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
101 | 109 | +7.9% |
Summary: The Wadena County real estate market had 109 homes for sale in May 2024, a 7.9% 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 | 23 | 26 | +13.0% |
3 Bedrooms | 39 | 41 | +5.1% |
4 Bedrooms | 21 | 22 | +4.8% |
5+ Bedrooms | 17 | 19 | +11.8% |
Summary: The Wadena 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 13%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
18 | 23 | +27.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 23 homes were sold or pending in Wadena County in May 2024, up by 27.8% month-over-month. Of the 23 sold homes, 48% were sold under asking, 17% were sold at asking, and 35% were sold over asking.
Days on Market for Wadena County, MN
How long does it take to sell a home in Wadena County, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
57 Days | 66 Days | +16.4% |
Summary: Homes in Wadena County had an average of 66 days on market in May 2024, up by 16.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During May 2024, 23 homes were sold in Wadena County; 43% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.