$3,764 Closing Credit*
$317,000
1,100 SqFt
3 Beds
•2 Full Baths
Listing Office: Keller Williams Integrity NW
Is Farm Island Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Farm Island Township has remained a Seller's Market.
Key Takeaway
Farm Island Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farm Island Township, MN
How much do homes in Farm Island Township, MN cost?
Median Sold Price
$453,000
$293/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$88,000(+24.1%)
Key Takeaway
Homes in Farm Island Township have sold for 24.1% more than they did a year ago.
Summary: The median home sold price in Farm Island Township was $453,000 in November 2024, up 24.1% from last year, and the median price per square foot was $293.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $273.5K | +5.2% |
| 2 Bedrooms | $358K | $429.9K | +20.1% |
| 3 Bedrooms | $389.5K | $425K | +9.1% |
| 4 Bedrooms | $415K | $607.8K | +46.5% |
| 5+ Bedrooms | $2.0M | $555K | -72.3% |
Summary: Farm Island Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.2%, 2 bedroom homes increased by 20.1%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 46.5%, and 5+ bedroom homes decreased by 72.3%.
Median Sold Price Compared To Nearby Cities
| Farm Island Township | $365K | $453K | +24.1% |
| Aitkin Township | $290K | $297.4K | +2.6% |
| Nordland Township | $410K | $365.2K | -10.9% |
Housing Supply in Farm Island Township, MN
How many homes are available in Farm Island Township, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 4 | -42.9% |
Summary: The Farm Island Township real estate market had 4 homes for sale in November 2024, a 42.9% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 3 | 2 | -33.3% |
| 3 Bedrooms | 3 | 2 | -33.3% |
| 4 Bedrooms | 0 | 0 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Farm Island Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Farm Island Township, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Farm Island Township in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Farm Island Township, MN
How long does it take to sell a home in Farm Island Township, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 1 Day | 3 Days | +200.0% |
Summary: Homes in Farm Island Township had an average of 3 days on market in Nov 2024, up by 200% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Farm Island Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in Farm Island Township; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
