$4,453 Closing Credit*
$375,000
2,844 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: Real Estate Retrievers-Luverne
Is Luverne Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Luverne Township was a Seller's Market.
Key Takeaway
Luverne Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Luverne Township, MN
How much do homes in Luverne Township, MN cost?
Median Sold Price
$227,950
$118/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$57,750(+33.9%)
Key Takeaway
Homes in Luverne Township have sold for 33.9% more than they did a year ago.
Summary: The median home sold price in Luverne Township was $227,950 in October 2024, up 33.9% from last year, and the median price per square foot was $118.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $47K | N/A |
| 2 Bedrooms | $117.6K | $330K | +180.5% |
| 3 Bedrooms | $162.7K | $226K | +38.9% |
| 4 Bedrooms | $217.5K | $235K | +8.0% |
| 5+ Bedrooms | $260K | $255.4K | -1.8% |
Summary: Luverne Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 180.5%, 3 bedroom homes increased by 38.9%, 4 bedroom homes increased by 8%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Cities
| Luverne Township | $170.2K | $227.9K | +33.9% |
| Luverne | $174.9K | $227.9K | +30.3% |
| Mound Township | $425K | $433.5K | +2.0% |
Housing Supply in Luverne Township, MN
How many homes are available in Luverne Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 38 | 52 | +36.8% |
Summary: The Luverne Township real estate market had 52 homes for sale in October 2024, a 36.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 8 | 13 | +62.5% |
| 3 Bedrooms | 14 | 21 | +50.0% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Luverne Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 62.5%, 3 bedroom homes increased by 50%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Luverne Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Luverne Township in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Luverne Township, MN
How long does it take to sell a home in Luverne Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 91 Days | 383 Days | +319.9% |
Summary: Homes in Luverne Township had an average of 383 days on market in Oct 2024, up by 319.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Luverne Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 2 homes were sold in Luverne Township; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
