Is Garfield, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Garfield is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, Garfield was a Buyer's Market.

Key Takeaway

Garfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Garfield, MN

How much do homes in Garfield, MN cost?

Median Sold Price

$308,950

$186/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$60,050(-16.3%)

Key Takeaway

Homes in Garfield have sold for 16.3% less than they did a month ago.

Summary: The median home sold price in Garfield was $308,950 in November 2024, down 16.3% from last month, and the median price per square foot was $186.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 -$189.9K
N/A
2 --
N/A
3 -$225K
N/A
4 $369K$475K
+28.7%
5+ --
N/A

Summary: Garfield 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 did not change, 3 bedroom homes did not change, 4 bedroom homes increased by 28.7%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Cities

Ida Township
+29.0%
Garfield
-16.3%

Housing Supply in Garfield, MN

How many homes are available in Garfield, MN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
89+12.5%

Summary: The Garfield real estate market had 9 homes for sale in November 2024, a 12.5% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 00
0.0%
3 34
+33.3%
4 33
0.0%
5+ 00
0.0%

Summary: The Garfield 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 increased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
14+300.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Garfield, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Garfield in November 2024, up by 300.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.

Days on Market for Garfield, MN

How long does it take to sell a home in Garfield, MN?

Average Sale Time

Oct 2024Nov 2024CHANGE
30 Days26 Days-13.3%

Summary: Homes in Garfield had an average of 26 days on market in Nov 2024, down by 13.3% compared to last month.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Garfield are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 4 homes were sold in Garfield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 18 Days Ago

Newest Listings in Garfield, MN

Nearby Markets to Garfield, MN

What housing markets are near Garfield, MN?