$3,966 Closing Credit*
$334,000
1,872 SqFt
3 Beds
•2 Full Baths
Listing Office: Lakes Family Real Estate/Otter Tail Real Estate
Is Detroit Township, 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, Detroit Township was a Seller's Market.
Key Takeaway
Detroit Township 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 Detroit Township, MN
How much do homes in Detroit Township, MN cost?
Median Sold Price
$369,500
$203/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,500(+7.1%)
Key Takeaway
Homes in Detroit Township have sold for 7.1% more than they did a year ago.
Summary: The median home sold price in Detroit Township was $369,500 in October 2024, up 7.1% from last year, and the median price per square foot was $203.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $266.5K | - | N/A |
| 3 Bedrooms | $345K | $322K | -6.7% |
| 4 Bedrooms | $345K | $720K | +108.7% |
| 5+ Bedrooms | $449.5K | $1.1M | +144.7% |
Summary: Detroit Township 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 did not change, 3 bedroom homes decreased by 6.7%, 4 bedroom homes increased by 108.7%, and 5+ bedroom homes increased by 144.7%.
Median Sold Price Compared To Nearby Cities
| Detroit Lakes | $319.9K | $349.2K | +9.1% |
| Detroit Township | $345K | $369.5K | +7.1% |
Housing Supply in Detroit Township, MN
How many homes are available in Detroit Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 20 | +33.3% |
Summary: The Detroit Township real estate market had 20 homes for sale in October 2024, a 33.3% increase 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 | 0 | 2 | +100.0% |
| 3 Bedrooms | 10 | 13 | +30.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Detroit Township 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 100%, 3 bedroom homes increased by 30%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 0 | 3 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Detroit Township, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Detroit Township in October 2024, up by 100.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Detroit Township, MN
How long does it take to sell a home in Detroit Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 53 Days | 52 Days | -1.1% |
Summary: Homes in Detroit Township had an average of 52 days on market in Oct 2024, down by 1.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Detroit Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Detroit Township; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
