$3,925 Closing Credit*
$330,490
1,782 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Lennar Sales Corp
Is Farmington 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, Farmington Township has remained a Seller's Market.
Key Takeaway
Farmington Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farmington Township, MN
How much do homes in Farmington Township, MN cost?
Median Sold Price
$410,235
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$40,302(+10.9%)
Key Takeaway
Homes in Farmington Township have sold for 10.9% more than they did a year ago.
Summary: The median home sold price in Farmington Township was $410,235 in November 2024, up 10.9% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $150.5K | - | N/A |
| 2 Bedrooms | $269K | $270K | 0.4% |
| 3 Bedrooms | $345K | $375K | +8.7% |
| 4 Bedrooms | $413K | $440K | +6.5% |
| 5+ Bedrooms | $488.4K | $499.9K | +2.3% |
Summary: Farmington Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Cities
| Farmington Township | $369.9K | $410.2K | +10.9% |
| Haverhill Township | $924.9K | $677.5K | -26.8% |
Housing Supply in Farmington Township, MN
How many homes are available in Farmington Township, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 212 | 184 | -13.2% |
Summary: The Farmington Township real estate market had 184 homes for sale in November 2024, a 13.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 44 | 38 | -13.6% |
| 3 Bedrooms | 74 | 64 | -13.5% |
| 4 Bedrooms | 65 | 58 | -10.8% |
| 5+ Bedrooms | 29 | 24 | -17.2% |
Summary: The Farmington 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 13.6%, 3 bedroom homes decreased by 13.5%, 4 bedroom homes decreased by 10.8%, and 5+ bedroom homes decreased by 17.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 57 | 36 | -36.8% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farmington Township, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Farmington Township in November 2024, down by 36.8% month-over-month. Of the 36 sold homes, 42% were sold under asking, 31% were sold at asking, and 28% were sold over asking.
Days on Market for Farmington Township, MN
How long does it take to sell a home in Farmington Township, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 40 Days | +19.1% |
Summary: Homes in Farmington Township had an average of 40 days on market in Nov 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Farmington Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 36 homes were sold in Farmington Township; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
