$6,175 Closing Credit*
$520,000
1,824 SqFt
4 Beds
•2 Baths
Listing Office: MOVE IT REAL ESTATE GROUP/LAKEHOMES.COM
Is Deer River, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$185/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$23,000(-8.9%)
Key Takeaway
Homes in Deer River have sold for 8.9% less than they did a year ago.
Summary: The median home sold price in Deer River was $235,000 in November 2024, down 8.9% from last year, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $142.7K | $77K | -46.1% |
| 2 Bedrooms | $188.9K | $217.5K | +15.1% |
| 3 Bedrooms | $325K | $361K | +11.1% |
| 4 Bedrooms | $405K | $396.5K | -2.1% |
| 5+ Bedrooms | $390K | $620K | +59.0% |
Summary: Deer River housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 46.1%, 2 bedroom homes increased by 15.1%, 3 bedroom homes increased by 11.1%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 59%.
Median Sold Price Compared To Nearby Cities
| Deer River | $258K | $235K | -8.9% |
| Deer River Township | $258K | $235K | -8.9% |
Housing Supply in Deer River, MN
How many homes are available in Deer River, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 14 | -33.3% |
Summary: The Deer River real estate market had 14 homes for sale in November 2024, a 33.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 5 | -54.5% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Deer River 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 decreased by 54.5%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 5 | -37.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 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. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Deer River in November 2024, down by 37.5% month-over-month. Of the 5 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 47 Days | 68 Days | +43.7% |
Summary: Homes in Deer River had an average of 68 days on market in Nov 2024, up by 43.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Deer River has remained consistent over time.
Summary: During November 2024, 5 homes were sold in Deer River; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
