$3,741 Closing Credit*
$315,000
1,454 SqFt
2 Beds
•1 Full Bath
Listing Office: HomeAvenue Inc
Is Buffalo, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Buffalo has remained a Seller's Market.
Key Takeaway
Buffalo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Buffalo, MN
How much do homes in Buffalo, MN cost?
Median Sold Price
$360,000
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$550(+0.2%)
Key Takeaway
The sold price of homes in Buffalo has remained the same since last year.
Summary: The median home sold price in Buffalo was $360,000 in October 2024, up 0.2% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $345K | -16.9% |
| 2 Bedrooms | $266K | $276K | +3.8% |
| 3 Bedrooms | $328.5K | $325K | -1.1% |
| 4 Bedrooms | $389.9K | $389.9K | 0.0% |
| 5+ Bedrooms | $443.2K | $414.5K | -6.5% |
Summary: Buffalo housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.9%, 2 bedroom homes increased by 3.8%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 6.5%.
Median Sold Price Compared To Nearby Cities
| Buffalo Township | $355K | $360K | +1.4% |
| Buffalo | $359.4K | $360K | 0.2% |
| Rockford Township | $385.5K | $369.9K | -4.0% |
Housing Supply in Buffalo, MN
How many homes are available in Buffalo, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 112 | 116 | +3.6% |
Summary: The Buffalo real estate market had 116 homes for sale in October 2024, a 3.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 1 | -66.7% |
| 2 Bedrooms | 13 | 14 | +7.7% |
| 3 Bedrooms | 45 | 49 | +8.9% |
| 4 Bedrooms | 31 | 32 | +3.2% |
| 5+ Bedrooms | 20 | 20 | 0.0% |
Summary: The Buffalo housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 66.7%, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 8.9%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 24 | 36 | +50.0% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Buffalo, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Buffalo in October 2024, up by 50.0% month-over-month. Of the 36 sold homes, 42% were sold under asking, 19% were sold at asking, and 39% were sold over asking.
Days on Market for Buffalo, MN
How long does it take to sell a home in Buffalo, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 25 Days | -11.7% |
Summary: Homes in Buffalo had an average of 25 days on market in Oct 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
27 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Buffalo are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 36 homes were sold in Buffalo; 75% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
