Is Balsam Township, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Balsam Township is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Balsam Township has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Balsam Township, MN

How much do homes in Balsam Township, MN cost?

Median Sold Price

$400,000

$148/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

+$153,000(+61.9%)

Key Takeaway

Homes in Balsam Township have sold for 61.9% more than they did a month ago.

Summary: The median home sold price in Balsam Township was $400,000 in October 2024, up 61.9% from last month, and the median price per square foot was $148.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $200.5K-
N/A
3 $345K$400K
+15.9%
4 --
N/A
5+ --
N/A

Summary: Balsam Township housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 15.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in Balsam Township, MN

How many homes are available in Balsam Township, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
64-33.3%

Summary: The Balsam Township real estate market had 4 homes for sale in October 2024, a 33.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 32
-33.3%
4 00
0.0%
5+ 00
0.0%

Summary: The Balsam Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
31-66.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Balsam Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in Balsam Township in October 2024, down by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Balsam Township, MN

How long does it take to sell a home in Balsam Township, MN?

Average Sale Time

Sep 2024Oct 2024CHANGE
55 Days91 Days+64.5%

Summary: Homes in Balsam Township had an average of 91 days on market in Oct 2024, up by 64.5% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Balsam Township are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 1 homes were sold in Balsam Township; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 21 Days Ago

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