$49,900
Land
Listing Office: Larson Group Real Estate/Kelle
Is First Assessment, 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, First Assessment has remained a Seller's Market.
Key Takeaway
First Assessment is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in First Assessment, MN
How much do homes in First Assessment, MN cost?
Median Sold Price
$405,000
$201/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$37,500(+10.2%)
Key Takeaway
Homes in First Assessment have sold for 10.2% more than they did a year ago.
Summary: The median home sold price in First Assessment was $405,000 in November 2024, up 10.2% from last year, and the median price per square foot was $201.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $290K | $150K | -48.3% |
| 2 Bedrooms | $338.7K | $245.5K | -27.5% |
| 3 Bedrooms | $331K | $430.4K | +30.0% |
| 4 Bedrooms | $412.5K | $425K | +3.0% |
| 5+ Bedrooms | $673.6K | $676.4K | 0.4% |
Summary: First Assessment housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 48.3%, 2 bedroom homes decreased by 27.5%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 3%, and 5+ bedroom homes increased by 0.4%.
Housing Supply in First Assessment, MN
How many homes are available in First Assessment, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 39 | 38 | -2.6% |
Summary: The First Assessment real estate market had 38 homes for sale in November 2024, a 2.6% 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 | 7 | 7 | 0.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 12 | 13 | +8.3% |
| 5+ Bedrooms | 5 | 3 | -40.0% |
Summary: The First Assessment 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes decreased by 40%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 8 | +14.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in First Assessment, you may be able to get a good deal. 62.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in First Assessment in November 2024, up by 14.3% month-over-month. Of the 8 sold homes, 63% were sold under asking, 25% were sold at asking, and 13% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 82 Days | +120.8% |
Summary: Homes in First Assessment had an average of 82 days on market in Nov 2024, up by 120.8% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in First Assessment are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in First Assessment; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
