$3,836 Closing Credit*
$323,000
1,095 SqFt
2 Beds
•1 Full Bath
Listing Office: Keller Williams Classic 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 October 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
$274,000
$261/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$56,000(+25.7%)
Key Takeaway
Homes in Downtown West have sold for 25.7% more than they did a year ago.
Summary: The median home sold price in Downtown West was $274,000 in October 2024, up 25.7% from last year, and the median price per square foot was $261.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.5K | $189.4K | +9.8% |
| 2 Bedrooms | $307.5K | $375K | +22.0% |
| 3 Bedrooms | $1.1M | $1.0M | -4.6% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Downtown West housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.8%, 2 bedroom homes increased by 22%, 3 bedroom homes decreased by 4.6%, 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% |
| Elliot Park | $325K | $353K | +8.6% |
| North Loop | $405K | $409K | +1.0% |
| Downtown East | $640K | $577.5K | -9.8% |
Housing Supply in Downtown West, MN
How many homes are available in Downtown West, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 61 | 62 | +1.6% |
Summary: The Downtown West real estate market had 62 homes for sale in October 2024, a 1.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 26 | 25 | -3.8% |
| 2 Bedrooms | 30 | 32 | +6.7% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown West housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 6.7%, 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 |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
4 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. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Downtown West in October 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 83 Days | 130 Days | +56.0% |
Summary: Homes in Downtown West had an average of 130 days on market in Oct 2024, up by 56% 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 Downtown West has remained consistent over time.
Summary: During October 2024, 5 homes were sold in Downtown West; 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.
