$2,968 Closing Credit*
$249,900
871 SqFt
1 Bed
•1 Bath
Listing Office: Lakes Sotheby's International Realty
Is Downtown West, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Downtown West was a Seller's Market.
Key Takeaway
Downtown West is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown West, MN
How much do homes in Downtown West, MN cost?
Median Sold Price
$280,000
$265/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$60,000(+27.3%)
Key Takeaway
Homes in Downtown West have sold for 27.3% more than they did a year ago.
Summary: The median home sold price in Downtown West was $280,000 in November 2024, up 27.3% from last year, and the median price per square foot was $265.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $170.5K | $190K | +11.4% |
| 2 Bedrooms | $300K | $398.2K | +32.8% |
| 3 Bedrooms | $1.1M | $950K | -17.4% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown West housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.4%, 2 bedroom homes increased by 32.8%, 3 bedroom homes decreased by 17.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Downtown West | $220K | $280K | +27.3% |
| Central | $319.7K | $372.3K | +16.5% |
| Elliot Park | $330K | $353K | +7.0% |
| North Loop | $400K | $426.9K | +6.7% |
| Downtown East | $629.5K | $600K | -4.7% |
Housing Supply in Downtown West, MN
How many homes are available in Downtown West, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 47 | -4.1% |
Summary: The Downtown West real estate market had 47 homes for sale in November 2024, a 4.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 21 | 19 | -9.5% |
| 2 Bedrooms | 24 | 24 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown West housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.5%, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 6 | +20.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown West, you may be able to get a good deal. 83.3% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Downtown West in November 2024, up by 20.0% month-over-month. Of the 6 sold homes, 83% were sold under asking, 17% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown West, MN
How long does it take to sell a home in Downtown West, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 93 Days | 136 Days | +46.0% |
Summary: Homes in Downtown West had an average of 136 days on market in Nov 2024, up by 46% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Downtown West are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Downtown West; 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.
