$299,900
Land
Listing Office: Keller Williams Classic Rlty NW
Is Independence, 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, Independence has remained a Seller's Market.
Key Takeaway
Independence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Independence, MN
How much do homes in Independence, MN cost?
Median Sold Price
$860,000
$233/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$18,000(+2.1%)
Key Takeaway
Homes in Independence have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in Independence was $860,000 in November 2024, up 2.1% from last year, and the median price per square foot was $233.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $550K | N/A |
| 2 Bedrooms | - | $320K | N/A |
| 3 Bedrooms | $488K | $391.5K | -19.8% |
| 4 Bedrooms | $833.7K | $799.9K | -4.1% |
| 5+ Bedrooms | $1.4M | $1.2M | -16.5% |
Summary: Independence housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 19.8%, 4 bedroom homes decreased by 4.1%, and 5+ bedroom homes decreased by 16.5%.
Median Sold Price Compared To Nearby Cities
| Greenfield | $615K | $795K | +29.3% |
| Franklin Township | $439.2K | $470.2K | +7.1% |
| Independence | $842K | $860K | +2.1% |
| Maple Plain | $567K | $555K | -2.1% |
| Rockford | $384K | $347.5K | -9.5% |
Housing Supply in Independence, MN
How many homes are available in Independence, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 17 | +6.3% |
Summary: The Independence real estate market had 17 homes for sale in November 2024, a 6.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 0 | 2 | +100.0% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Independence housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Independence, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Independence in November 2024, the same as the previous month. Of the 3 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Independence, MN
How long does it take to sell a home in Independence, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 15 Days | 31 Days | +100.4% |
Summary: Homes in Independence had an average of 31 days on market in Nov 2024, up by 100.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Independence are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Independence; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
