$1,057 Closing Credit*
$89,000
1,488 SqFt
4 Beds
•1 Full Bath
Listing Office: RE/MAX Total Realty
Is Faribault County, 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, Faribault County has remained a Seller's Market.
Key Takeaway
Faribault County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Faribault County, MN
How much do homes in Faribault County, MN cost?
Median Sold Price
$152,500
$88/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$27,500(+22.0%)
Key Takeaway
Homes in Faribault County have sold for 22% more than they did a year ago.
Summary: The median home sold price in Faribault County was $152,500 in October 2024, up 22% from last year, and the median price per square foot was $88.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77.5K | - | N/A |
| 2 Bedrooms | $116.5K | $125K | +7.3% |
| 3 Bedrooms | $118K | $151.5K | +28.4% |
| 4 Bedrooms | $172.7K | $157K | -9.1% |
| 5+ Bedrooms | $101.4K | $231.4K | +128.1% |
Summary: Faribault County 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 7.3%, 3 bedroom homes increased by 28.4%, 4 bedroom homes decreased by 9.1%, and 5+ bedroom homes increased by 128.1%.
Median Sold Price Compared To Nearby Counties
| Faribault County | $125K | $152.5K | +22.0% |
| Martin County | $155K | $169.5K | +9.4% |
| Blue Earth County | $284K | $305K | +7.4% |
| Waseca County | $238.2K | $230K | -3.5% |
Housing Supply in Faribault County, MN
How many homes are available in Faribault County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 41 | -18.0% |
Summary: The Faribault County real estate market had 41 homes for sale in October 2024, a 18.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 24 | 20 | -16.7% |
| 4 Bedrooms | 12 | 11 | -8.3% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Faribault County 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 decreased by 28.6%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 13 | -18.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Faribault County, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Faribault County in October 2024, down by 18.8% month-over-month. Of the 13 sold homes, 46% were sold under asking, 15% were sold at asking, and 38% were sold over asking.
Days on Market for Faribault County, MN
How long does it take to sell a home in Faribault County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 27 Days | -3.3% |
Summary: Homes in Faribault County had an average of 27 days on market in Oct 2024, down by 3.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Faribault County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 13 homes were sold in Faribault County; 62% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
