$36,000
Land
Listing Office: MN DIRECT PROPERTIES
Is Grand Rapids, 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, Grand Rapids has remained a Seller's Market.
Key Takeaway
Grand Rapids is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Grand Rapids, MN
How much do homes in Grand Rapids, MN cost?
Median Sold Price
$279,500
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$27,750(+11.0%)
Key Takeaway
Homes in Grand Rapids have sold for 11% more than they did a year ago.
Summary: The median home sold price in Grand Rapids was $279,500 in November 2024, up 11% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $118K | $124.5K | +5.5% |
| 2 Bedrooms | $232K | $220K | -5.2% |
| 3 Bedrooms | $223.5K | $275K | +23.0% |
| 4 Bedrooms | $314K | $325K | +3.5% |
| 5+ Bedrooms | $483.7K | $399.9K | -17.3% |
Summary: Grand Rapids housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes decreased by 5.2%, 3 bedroom homes increased by 23%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes decreased by 17.3%.
Housing Supply in Grand Rapids, MN
How many homes are available in Grand Rapids, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 81 | 73 | -9.9% |
Summary: The Grand Rapids real estate market had 73 homes for sale in November 2024, a 9.9% 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 | 19 | 16 | -15.8% |
| 3 Bedrooms | 30 | 28 | -6.7% |
| 4 Bedrooms | 26 | 24 | -7.7% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Grand Rapids 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 decreased by 15.8%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 16 | -23.8% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Grand Rapids, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Grand Rapids in November 2024, down by 23.8% month-over-month. Of the 16 sold homes, 50% were sold under asking, 19% were sold at asking, and 31% were sold over asking.
Days on Market for Grand Rapids, MN
How long does it take to sell a home in Grand Rapids, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 46 Days | 55 Days | +20.7% |
Summary: Homes in Grand Rapids had an average of 55 days on market in Nov 2024, up by 20.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Grand Rapids has remained consistent over time.
Summary: During November 2024, 16 homes were sold in Grand Rapids; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
