$4,928 Closing Credit*
$415,000
2,687 SqFt
4 Beds
•1 Full Bath
Listing Office: Minnesota Lands and Homes -Fergus Falls
Is Fergus Falls, 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, Fergus Falls has remained a Seller's Market.
Key Takeaway
Fergus Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fergus Falls, MN
How much do homes in Fergus Falls, MN cost?
Median Sold Price
$225,000
$128/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$24,000(+11.9%)
Key Takeaway
Homes in Fergus Falls have sold for 11.9% more than they did a year ago.
Summary: The median home sold price in Fergus Falls was $225,000 in October 2024, up 11.9% from last year, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $97.5K | $76.5K | -21.5% |
| 2 Bedrooms | $169.9K | $165K | -2.9% |
| 3 Bedrooms | $176.2K | $220K | +24.9% |
| 4 Bedrooms | $255K | $260K | +2.0% |
| 5+ Bedrooms | $272.4K | $371K | +36.2% |
Summary: Fergus Falls housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 21.5%, 2 bedroom homes decreased by 2.9%, 3 bedroom homes increased by 24.9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 36.2%.
Median Sold Price Compared To Nearby Cities
| Fergus Falls | $201K | $225K | +11.9% |
| Fergus Falls Township | $201K | $225K | +11.9% |
Housing Supply in Fergus Falls, MN
How many homes are available in Fergus Falls, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 99 | 86 | -13.1% |
Summary: The Fergus Falls real estate market had 86 homes for sale in October 2024, a 13.1% 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 | 17 | 12 | -29.4% |
| 3 Bedrooms | 41 | 40 | -2.4% |
| 4 Bedrooms | 24 | 22 | -8.3% |
| 5+ Bedrooms | 17 | 12 | -29.4% |
Summary: The Fergus Falls 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 29.4%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes decreased by 29.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 26 | -10.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fergus Falls, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Fergus Falls in October 2024, down by 10.3% month-over-month. Of the 26 sold homes, 46% were sold under asking, 31% were sold at asking, and 23% were sold over asking.
Days on Market for Fergus Falls, MN
How long does it take to sell a home in Fergus Falls, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 38 Days | 29 Days | -24.0% |
Summary: Homes in Fergus Falls had an average of 29 days on market in Oct 2024, down by 24% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Fergus Falls are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 26 homes were sold in Fergus Falls; 58% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
