$4,038 Closing Credit*
$340,000
1,153 SqFt
2 Beds
•1 Full Bath
Listing Office: eXp Realty
Is Central, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Central was a Seller's Market.
Key Takeaway
Central is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Central, MN
How much do homes in Central, MN cost?
Median Sold Price
$366,750
$307/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$46,750(+14.6%)
Key Takeaway
Homes in Central have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in Central was $366,750 in October 2024, up 14.6% from last year, and the median price per square foot was $307.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $211K | $245.9K | +16.5% |
| 2 Bedrooms | $410K | $425K | +3.7% |
| 3 Bedrooms | $799K | $850K | +6.4% |
| 4 Bedrooms | $1.2M | $987.5K | -18.6% |
| 5+ Bedrooms | - | - | N/A |
Summary: Central housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 3.7%, 3 bedroom homes increased by 6.4%, 4 bedroom homes decreased by 18.6%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $218K | $274K | +25.7% |
| Central | $320K | $366.7K | +14.6% |
| Elliot Park | $325K | $353K | +8.6% |
| Loring Park | $232.5K | $250.4K | +7.7% |
Housing Supply in Central, MN
How many homes are available in Central, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 261 | 297 | +13.8% |
Summary: The Central real estate market had 297 homes for sale in October 2024, a 13.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 82 | 88 | +7.3% |
| 2 Bedrooms | 152 | 179 | +17.8% |
| 3 Bedrooms | 24 | 27 | +12.5% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Central housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.3%, 2 bedroom homes increased by 17.8%, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 30 | +20.0% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central, you may be able to get a good deal. 63.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Central in October 2024, up by 20.0% month-over-month. Of the 30 sold homes, 63% were sold under asking, 23% were sold at asking, and 13% were sold over asking.
Days on Market for Central, MN
How long does it take to sell a home in Central, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 83 Days | 80 Days | -3.3% |
Summary: Homes in Central had an average of 80 days on market in Oct 2024, down by 3.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Central has remained consistent over time.
Summary: During October 2024, 30 homes were sold in Central; 20% of homes were sold within 30 days, 53% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.
