Is Itasca County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Itasca County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Itasca County has remained a Seller's Market.

Key Takeaway

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

Housing Prices in Itasca County, MN

How much do homes in Itasca County, MN cost?

Median Sold Price

$255,450

$159/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,450(+8.7%)

Key Takeaway

Homes in Itasca County have sold for 8.7% more than they did a year ago.

Summary: The median home sold price in Itasca County was $255,450 in October 2024, up 8.7% from last year, and the median price per square foot was $159.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $118K$155K
+31.4%
2 $190K$208.5K
+9.7%
3 $234.2K$270K
+15.3%
4 $300K$325K
+8.3%
5+ $294.5K$399K
+35.5%

Summary: Itasca County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.4%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 15.3%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 35.5%.

Median Sold Price Compared To Nearby Counties

Saint Louis County
+24.5%
Itasca County
+8.7%
Koochiching County
+8.3%
Cass County
-0.1%
Aitkin County
-6.0%

Housing Supply in Itasca County, MN

How many homes are available in Itasca County, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
222205-7.7%

Summary: The Itasca County real estate market had 205 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 108
-20.0%
2 6757
-14.9%
3 9583
-12.6%
4 3844
+15.8%
5+ 1213
+8.3%

Summary: The Itasca County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 14.9%, 3 bedroom homes decreased by 12.6%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
5651-8.9%

Asking Price vs. Sold Price

30 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

14 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Itasca County, you may be able to get a good deal. 58.8% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in Itasca County in October 2024, down by 8.9% month-over-month. Of the 51 sold homes, 59% were sold under asking, 14% were sold at asking, and 27% were sold over asking.

Days on Market for Itasca County, MN

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

Average Sale Time

Oct 2023Oct 2024CHANGE
48 Days52 Days+8.2%

Summary: Homes in Itasca County had an average of 52 days on market in Oct 2024, up by 8.2% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

26 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in Itasca County has remained consistent over time.

Summary: During October 2024, 51 homes were sold in Itasca County; 31% of homes were sold within 30 days, 51% of homes were sold within 30 to 90 days, and 16% 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 4 Days Ago

Newest Listings in Itasca County, MN

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