$5,000,000
9,266 SqFt
4 Beds
•2 Full Baths, 2 Partial
Listing Office: Edina Realty, Inc.
Is Garfield, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Garfield was a Seller's Market.
Key Takeaway
Garfield is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Garfield, MN
How much do homes in Garfield, MN cost?
Median Sold Price
$352,500
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$9,500(-2.6%)
Key Takeaway
Homes in Garfield have sold for 2.6% less than they did a year ago.
Summary: The median home sold price in Garfield was $352,500 in October 2024, down 2.6% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $99.6K | $232.5K | +133.4% |
| 3 Bedrooms | $365K | $390K | +6.8% |
| 4 Bedrooms | $379.5K | $355K | -6.5% |
| 5+ Bedrooms | - | - | N/A |
Summary: Garfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 133.4%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| La Grand Township | $381.5K | $389K | +2.0% |
| Garfield | $362K | $352.5K | -2.6% |
Housing Supply in Garfield, MN
How many homes are available in Garfield, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Summary: The Garfield real estate market had 9 homes for sale in October 2024, a 12.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 2 | 0 | -100.0% |
| 3 Bedrooms | 2 | 3 | +50.0% |
| 4 Bedrooms | 3 | 4 | +33.3% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Garfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Garfield, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Garfield in October 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% 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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 88 Days | 30 Days | -65.9% |
Summary: Homes in Garfield had an average of 30 days on market in Oct 2024, down by 65.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Garfield has remained consistent over time.
Summary: During October 2024, 1 homes were sold in Garfield; 0% of homes were sold within 30 days, 100% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
