$4,156 Closing Credit*
$350,000
1,145 SqFt
2 Beds
•1 Full Bath
Listing Office: Real Broker, LLC
Is Downtown East, 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, Downtown East was a Seller's Market.
Key Takeaway
Downtown East 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 Downtown East, MN
How much do homes in Downtown East, MN cost?
Median Sold Price
$577,500
$396/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$62,500(-9.8%)
Key Takeaway
Homes in Downtown East have sold for 9.8% less than they did a year ago.
Summary: The median home sold price in Downtown East was $577,500 in October 2024, down 9.8% from last year, and the median price per square foot was $396.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $470K | $384.9K | -18.1% |
| 2 Bedrooms | $629K | $577.5K | -8.2% |
| 3 Bedrooms | $820K | $1.0M | +26.5% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown East housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 18.1%, 2 bedroom homes decreased by 8.2%, 3 bedroom homes increased by 26.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $218K | $274K | +25.7% |
| Central | $320K | $366.7K | +14.6% |
| Downtown East | $640K | $577.5K | -9.8% |
Housing Supply in Downtown East, MN
How many homes are available in Downtown East, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 42 | +10.5% |
Summary: The Downtown East real estate market had 42 homes for sale in October 2024, a 10.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 31 | 35 | +12.9% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown East 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 12.9%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown East, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Downtown East in October 2024, up by 133.3% month-over-month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% were sold over asking.
Days on Market for Downtown East, MN
How long does it take to sell a home in Downtown East, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 67 Days | 72 Days | +8.1% |
Summary: Homes in Downtown East had an average of 72 days on market in Oct 2024, up by 8.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Downtown East has remained consistent over time.
Summary: During October 2024, 7 homes were sold in Downtown East; 29% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
