$6,092 Closing Credit*
$513,000
1,702 SqFt
3 Beds
•1 Full Bath
Benjamin Funke, Listing Office: RE/MAX Results
Is Hermantown, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Hermantown has remained a Seller's Market.
Key Takeaway
Hermantown is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hermantown, MN
How much do homes in Hermantown, MN cost?
Median Sold Price
$392,500
$223/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$12,500(-3.1%)
Key Takeaway
Homes in Hermantown have sold for 3.1% less than they did a month ago.
Summary: The median home sold price in Hermantown was $392,500 in November 2024, down 3.1% from last month, and the median price per square foot was $223.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $37K | $249.9K | +575.4% |
| 3 Bedrooms | $340K | $380K | +11.8% |
| 4 Bedrooms | $475K | $485K | +2.1% |
| 5+ Bedrooms | $665K | $540K | -18.8% |
Summary: Hermantown 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 increased by 575.4%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes decreased by 18.8%.
Median Sold Price Compared To Nearby Cities
| Hermantown | $405K | $392.5K | -3.1% |
| Canosia Township | $695K | $435K | -37.4% |
| Proctor | $370.5K | $163.9K | -55.7% |
Housing Supply in Hermantown, MN
How many homes are available in Hermantown, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 59 | 48 | -18.6% |
Summary: The Hermantown real estate market had 48 homes for sale in November 2024, a 18.6% 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 30 | 23 | -23.3% |
| 4 Bedrooms | 14 | 11 | -21.4% |
| 5+ Bedrooms | 10 | 7 | -30.0% |
Summary: The Hermantown 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 increased by 40%, 3 bedroom homes decreased by 23.3%, 4 bedroom homes decreased by 21.4%, and 5+ bedroom homes decreased by 30%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 15 | -11.8% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hermantown, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Hermantown in November 2024, down by 11.8% month-over-month. Of the 14 sold homes, 64% were sold under asking, 29% were sold at asking, and 7% were sold over asking.
Days on Market for Hermantown, MN
How long does it take to sell a home in Hermantown, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 37 Days | +9.2% |
Summary: Homes in Hermantown had an average of 37 days on market in Nov 2024, up by 9.2% compared to last month.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hermantown are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in Hermantown; 53% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
