$50,000
Land
Listing Office: Keller Williams Preferred Realty
Is Lyon County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lyon County was a Seller's Market.
Key Takeaway
Lyon County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lyon County, MN
How much do homes in Lyon County, MN cost?
Median Sold Price
$187,500
$104/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$2,500(+1.4%)
Key Takeaway
Homes in Lyon County have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Lyon County was $187,500 in November 2024, up 1.4% from last year, and the median price per square foot was $104.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $116.2K | $90.5K | -22.2% |
| 2 Bedrooms | $113K | $117K | +3.5% |
| 3 Bedrooms | $165K | $180K | +9.1% |
| 4 Bedrooms | $228.7K | $225K | -1.6% |
| 5+ Bedrooms | $260K | $350K | +34.6% |
Summary: Lyon County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 34.6%.
Median Sold Price Compared To Nearby Counties
| Murray County | $125K | $169.5K | +35.6% |
| Yellow Medicine County | $142.2K | $159.6K | +12.2% |
| Redwood County | $140K | $154.5K | +10.4% |
| Lyon County | $185K | $187.5K | +1.4% |
| Lincoln County | $136.4K | $137.5K | +0.8% |
Housing Supply in Lyon County, MN
How many homes are available in Lyon County, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 | 74 | -1.3% |
Summary: The Lyon County real estate market had 74 homes for sale in November 2024, a 1.3% 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 | 16 | 18 | +12.5% |
| 3 Bedrooms | 28 | 25 | -10.7% |
| 4 Bedrooms | 23 | 21 | -8.7% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Lyon County 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 12.5%, 3 bedroom homes decreased by 10.7%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 | 11 | -31.3% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lyon County, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in Lyon County in November 2024, down by 31.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 9% were sold at asking, and 45% were sold over asking.
Days on Market for Lyon County, MN
How long does it take to sell a home in Lyon County, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 36 Days | 23 Days | -35.7% |
Summary: Homes in Lyon County had an average of 23 days on market in Nov 2024, down by 35.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lyon County are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 11 homes were sold in Lyon County; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
