$89,999
Land
Listing Office: eXp Realty
Is Deer River, 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, Deer River has remained a Seller's Market.
Key Takeaway
Deer River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Deer River, MN
How much do homes in Deer River, MN cost?
Median Sold Price
$235,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$5,000(-2.1%)
Key Takeaway
Homes in Deer River have sold for 2.1% less than they did a year ago.
Summary: The median home sold price in Deer River was $235,000 in October 2024, down 2.1% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $63K | -59.4% |
| 2 Bedrooms | $188.9K | $210K | +11.1% |
| 3 Bedrooms | $276K | $322K | +16.7% |
| 4 Bedrooms | $430K | $290K | -32.6% |
| 5+ Bedrooms | $370K | $620K | +67.6% |
Summary: Deer River housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 59.4%, 2 bedroom homes increased by 11.1%, 3 bedroom homes increased by 16.7%, 4 bedroom homes decreased by 32.6%, and 5+ bedroom homes increased by 67.6%.
Median Sold Price Compared To Nearby Cities
| Deer River | $240K | $235K | -2.1% |
| Deer River Township | $245.5K | $235K | -4.3% |
Housing Supply in Deer River, MN
How many homes are available in Deer River, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Summary: The Deer River real estate market had 23 homes for sale in October 2024, a 9.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 1 | 2 | +100.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Deer River 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 increased by 10%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Deer River, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Deer River in October 2024, up by 166.7% month-over-month. Of the 8 sold homes, 63% were sold under asking, 13% were sold at asking, and 25% were sold over asking.
Days on Market for Deer River, MN
How long does it take to sell a home in Deer River, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 39 Days | 49 Days | +25.6% |
Summary: Homes in Deer River had an average of 49 days on market in Oct 2024, up by 25.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Deer River are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Deer River; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
