$160,000
Land
Listing Office: Edina Realty, Inc.
Is Farwell, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Farwell has remained a Seller's Market.
Key Takeaway
Farwell is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Farwell, MN
How much do homes in Farwell, MN cost?
Median Sold Price
$220,000
$327/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$110,000(+100.0%)
Key Takeaway
Homes in Farwell have sold for 100% more than they did a month ago.
Summary: The median home sold price in Farwell was $220,000 in November 2024, up 100% from last month, and the median price per square foot was $327.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $135K | N/A |
| 2 Bedrooms | $110K | $220K | +100.0% |
| 3 Bedrooms | - | $379K | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Farwell 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 increased by 100%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Farwell, MN
How many homes are available in Farwell, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Summary: The Farwell real estate market had 4 homes for sale in November 2024, a 20.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Farwell 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 50%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Farwell, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Farwell in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Farwell, MN
How long does it take to sell a home in Farwell, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 Days | 19 Days | -60.7% |
Summary: Homes in Farwell had an average of 19 days on market in Nov 2024, down by 60.7% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Farwell are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Farwell; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
