$1,900,000
Land
Listing Office: Cushman and Wakefield
Is Cologne, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Cologne was a Neutral Market.
Key Takeaway
Cologne is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Cologne, MN
How much do homes in Cologne, MN cost?
Median Sold Price
$431,092
$220/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$36,067(+9.1%)
Key Takeaway
Homes in Cologne have sold for 9.1% more than they did a month ago.
Summary: The median home sold price in Cologne was $431,092 in November 2024, up 9.1% from last month, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $395K | $388.3K | -1.7% |
| 4 Bedrooms | $412.5K | $488.2K | +18.4% |
| 5+ Bedrooms | - | - | N/A |
Summary: Cologne housing prices by bedroom type for November 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 decreased by 1.7%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes did not change.
Housing Supply in Cologne, MN
How many homes are available in Cologne, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 33 | 0.0% |
Summary: The Cologne real estate market had 33 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 | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Cologne 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 remained the same, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Cologne, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 6 homes were sold or pending in Cologne in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 50% were sold at asking, and 33% were sold over asking.
Days on Market for Cologne, MN
How long does it take to sell a home in Cologne, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 Days | 28 Days | +136.3% |
Summary: Homes in Cologne had an average of 28 days on market in Nov 2024, up by 136.3% compared to last month.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Cologne are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Cologne; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
