$6,530 Closing Credit*
$549,900
1,884 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Central MN Realty LLC
Is Albany, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Albany has remained a Seller's Market.
Key Takeaway
Albany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Albany, MN
How much do homes in Albany, MN cost?
Median Sold Price
$250,000
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$2,500(-1.0%)
Key Takeaway
Homes in Albany have sold for 1% less than they did a year ago.
Summary: The median home sold price in Albany was $250,000 in November 2024, down 1% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $238K | - | N/A |
| 2 Bedrooms | $234.9K | $265K | +12.8% |
| 3 Bedrooms | $201.5K | $226.9K | +12.6% |
| 4 Bedrooms | $313K | $310K | -1.0% |
| 5+ Bedrooms | $489.9K | $350K | -28.6% |
Summary: Albany housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.8%, 3 bedroom homes increased by 12.6%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 28.6%.
Median Sold Price Compared To Nearby Cities
| Albany | $252.5K | $250K | -1.0% |
| Albany Township | $258.7K | $250K | -3.4% |
Housing Supply in Albany, MN
How many homes are available in Albany, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The Albany real estate market had 10 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Albany housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
3 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 Albany, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Albany in November 2024, up by 50.0% month-over-month. Of the 3 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Albany, MN
How long does it take to sell a home in Albany, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 10 Days | -38.2% |
Summary: Homes in Albany had an average of 10 days on market in Nov 2024, down by 38.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Albany are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Albany; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
