$2,434 Closing Credit*
$205,000
1,056 SqFt
3 Beds
•1 Full Bath
Listing Office: EXIT Realty - Great Plains
Is Fairmont Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Fairmont Township has remained a Seller's Market.
Key Takeaway
Fairmont Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairmont Township, MN
How much do homes in Fairmont Township, MN cost?
Median Sold Price
$182,900
$107/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,150(+5.9%)
Key Takeaway
Homes in Fairmont Township have sold for 5.9% more than they did a year ago.
Summary: The median home sold price in Fairmont Township was $182,900 in October 2024, up 5.9% from last year, and the median price per square foot was $107.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $81.2K | N/A |
| 2 Bedrooms | $126.1K | $130K | +3.1% |
| 3 Bedrooms | $165K | $190K | +15.2% |
| 4 Bedrooms | $282.5K | $265K | -6.2% |
| 5+ Bedrooms | $240.5K | $257.4K | +7.0% |
Summary: Fairmont 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 increased by 3.1%, 3 bedroom homes increased by 15.2%, 4 bedroom homes decreased by 6.2%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
| Fairmont | $169K | $182.9K | +8.2% |
| Fairmont Township | $172.7K | $182.9K | +5.9% |
Housing Supply in Fairmont Township, MN
How many homes are available in Fairmont Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 60 | 56 | -6.7% |
Summary: The Fairmont Township real estate market had 56 homes for sale in October 2024, a 6.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 31 | 29 | -6.5% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Fairmont 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 remained the same, 3 bedroom homes decreased by 6.5%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 14 | -12.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmont Township, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Fairmont Township in October 2024, down by 12.5% month-over-month. Of the 14 sold homes, 29% were sold under asking, 21% were sold at asking, and 50% were sold over asking.
Days on Market for Fairmont Township, MN
How long does it take to sell a home in Fairmont Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 60 Days | +77.2% |
Summary: Homes in Fairmont Township had an average of 60 days on market in Oct 2024, up by 77.2% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairmont Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 14 homes were sold in Fairmont Township; 64% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
