$169,900
Land
Listing Office: eXp Realty
Is First Assessment, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
At the same time last year, First Assessment was a Seller's Market.
Key Takeaway
First Assessment is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in First Assessment, MN
How much do homes in First Assessment, MN cost?
Median Sold Price
$405,000
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$32,500(+8.7%)
Key Takeaway
Homes in First Assessment have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in First Assessment was $405,000 in December 2024, up 8.7% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $220K | $192.4K | -12.5% |
| 2 Bedrooms | $338.7K | $245.5K | -27.5% |
| 3 Bedrooms | $337.5K | $435K | +28.9% |
| 4 Bedrooms | $430K | $417K | -3.0% |
| 5+ Bedrooms | $660.9K | $678.2K | +2.6% |
Summary: First Assessment housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.5%, 2 bedroom homes decreased by 27.5%, 3 bedroom homes increased by 28.9%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes increased by 2.6%.
Housing Supply in First Assessment, MN
How many homes are available in First Assessment, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 34 | 28 | -17.6% |
Summary: The First Assessment real estate market had 28 homes for sale in December 2024, a 17.6% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 14 | 10 | -28.6% |
| 4 Bedrooms | 11 | 9 | -18.2% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The First Assessment housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in First Assessment, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in First Assessment in December 2024, down by 62.5% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for First Assessment, MN
How long does it take to sell a home in First Assessment, MN?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 38 Days | 67 Days | +75.0% |
Summary: Homes in First Assessment had an average of 67 days on market in Dec 2024, up by 75% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in First Assessment are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 3 homes were sold in First Assessment; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
