$2,136 Closing Credit*
$179,900
970 SqFt
2 Beds
•2 Full Baths
Listing Office: RE/MAX Results
Is Central, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$372,383
$311/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$52,683(+16.5%)
Key Takeaway
Homes in Central have sold for 16.5% more than they did a year ago.
Summary: The median home sold price in Central was $372,383 in November 2024, up 16.5% from last year, and the median price per square foot was $311.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $214.5K | $246.4K | +14.9% |
| 2 Bedrooms | $410K | $428K | +4.4% |
| 3 Bedrooms | $777K | $855K | +10.0% |
| 4 Bedrooms | $1.3M | $987.5K | -28.2% |
| 5+ Bedrooms | - | - | N/A |
Summary: Central housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 14.9%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 28.2%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $220K | $280K | +27.3% |
| Central | $319.7K | $372.3K | +16.5% |
| Elliot Park | $330K | $353K | +7.0% |
| Loring Park | $242.5K | $242.5K | 0.0% |
Housing Supply in Central, MN
How many homes are available in Central, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 251 | 258 | +2.8% |
Summary: The Central real estate market had 258 homes for sale in November 2024, a 2.8% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 76 | 79 | +3.9% |
| 2 Bedrooms | 147 | 151 | +2.7% |
| 3 Bedrooms | 24 | 25 | +4.2% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Central housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 3.9%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 30 | -9.1% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central, you may be able to get a good deal. 76.7% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Central in November 2024, down by 9.1% month-over-month. Of the 30 sold homes, 77% were sold under asking, 17% were sold at asking, and 7% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 73 Days | 102 Days | +39.4% |
Summary: Homes in Central had an average of 102 days on market in Nov 2024, up by 39.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Central are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 30 homes were sold in Central; 23% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
