$4,453 Closing Credit*
$375,000
1,500 SqFt
2 Beds
•2 Baths
Connie Coughlin, Listing Office: Bear Island Realty LLC
Is Fall Lake Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Fall Lake Township was a Seller's Market.
Key Takeaway
Fall Lake Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Fall Lake Township, MN
How much do homes in Fall Lake Township, MN cost?
Median Sold Price
$517,500
$362/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$271,183(-34.4%)
Key Takeaway
Homes in Fall Lake Township have sold for 34.4% less than they did a month ago.
Summary: The median home sold price in Fall Lake Township was $517,500 in November 2024, down 34.4% from last month, and the median price per square foot was $362.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $255K | - | N/A |
| 3 Bedrooms | $677.3K | $517.5K | -23.6% |
| 4 Bedrooms | $900K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Fall Lake Township housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 23.6%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Crystal Bay Township | $215K | $349K | +62.3% |
| Stony River Township | $340K | $269K | -20.9% |
| Fall Lake Township | $788.6K | $517.5K | -34.4% |
| Ely | $349.5K | $199K | -43.1% |
| Morse Township | $732K | $345K | -52.9% |
Housing Supply in Fall Lake Township, MN
How many homes are available in Fall Lake Township, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Summary: The Fall Lake Township real estate market had 16 homes for sale in November 2024, a 15.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 4 | 2 | -50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Fall Lake Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 2 | -50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fall Lake Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Fall Lake Township in November 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Fall Lake Township, MN
How long does it take to sell a home in Fall Lake Township, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 155 Days | 92 Days | -40.7% |
Summary: Homes in Fall Lake Township had an average of 92 days on market in Nov 2024, down by 40.7% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Fall Lake Township has remained consistent over time.
Summary: During November 2024, 2 homes were sold in Fall Lake Township; 0% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
