$5,461 Closing Credit*
$459,900
2,172 SqFt
4 Beds
•1 Full Bath
Listing Office: Keller Williams Integrity Realty
Is Cologne, 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, Cologne was a Seller's Market.
Key Takeaway
Cologne is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Cologne, MN
How much do homes in Cologne, MN cost?
Median Sold Price
$405,000
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+2.5%)
Key Takeaway
Homes in Cologne have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Cologne was $405,000 in October 2024, up 2.5% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $246.5K | N/A |
| 2 Bedrooms | $288K | $340K | +18.1% |
| 3 Bedrooms | $397.6K | $407.5K | +2.5% |
| 4 Bedrooms | $412K | $385.9K | -6.3% |
| 5+ Bedrooms | $379K | $465.3K | +22.8% |
Summary: Cologne housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 2.5%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 22.8%.
Housing Supply in Cologne, MN
How many homes are available in Cologne, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 35 | -10.3% |
Summary: The Cologne real estate market had 35 homes for sale in October 2024, a 10.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 23 | 20 | -13.0% |
| 4 Bedrooms | 15 | 14 | -6.7% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Cologne 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 remained the same, 3 bedroom homes decreased by 13%, 4 bedroom homes decreased by 6.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 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. 40% of homes here sold near the asking price last month.
Summary: A total of 5 homes were sold or pending in Cologne in October 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 40% were sold at asking, and 40% 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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 12 Days | -75.7% |
Summary: Homes in Cologne had an average of 12 days on market in Oct 2024, down by 75.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 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 October 2024, 5 homes were sold in Cologne; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
