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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Herman is a seller's market

Buyer's
Market

Difference Since Last Month

Since last month, Herman has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Herman, MN

How much do homes in Herman, MN cost?

Median Sold Price

$67,500

$90/sqft

Based on all homes sold in September 2024.

Difference Since Last Month

-$179,325(-72.7%)

Key Takeaway

Homes in Herman have sold for 72.7% less than they did a month ago.

Summary: The median home sold price in Herman was $67,500 in September 2024, down 72.7% from last month, and the median price per square foot was $90.

Median Sold Price By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 --
N/A
2 -$67.5K
N/A
3 $133.6K-
N/A
4 $360K-
N/A
5+ --
N/A

Summary: Herman housing prices by bedroom type for September 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 did not change, and 5+ bedroom homes did not change.

Housing Supply in Herman, MN

How many homes are available in Herman, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
64-33.3%

Summary: The Herman real estate market had 4 homes for sale in September 2024, a 33.3% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 11
0.0%
3 43
-25.0%
4 10
-100.0%
5+ 00
0.0%

Summary: The Herman housing inventory by bedroom type for September 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 25%, 4 bedroom homes decreased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
21-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Herman, 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 Herman in September 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 Herman, MN

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

Average Sale Time

Aug 2024Sep 2024CHANGE
50 Days30 Days-40.6%

Summary: Homes in Herman had an average of 30 days on market in Sep 2024, down by 40.6% compared to last month.

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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Herman has remained consistent over time.

Summary: During September 2024, 1 homes were sold in Herman; 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.

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

Report Updated Sep 1, 2024

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