$2,434 Closing Credit*
$205,000
1,056 SqFt
3 Beds
•1 Full Bath
Listing Office: EXIT Realty - Great Plains
Is Martin County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Martin County has remained a Seller's Market.
Key Takeaway
Martin County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Martin County, MN
How much do homes in Martin County, MN cost?
Median Sold Price
$169,500
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$14,500(+9.4%)
Key Takeaway
Homes in Martin County have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Martin County was $169,500 in October 2024, up 9.4% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $71.5K | $81.2K | +13.6% |
| 2 Bedrooms | $110.5K | $120K | +8.6% |
| 3 Bedrooms | $155K | $171.5K | +10.6% |
| 4 Bedrooms | $229K | $242.9K | +6.1% |
| 5+ Bedrooms | $176K | $232.7K | +32.2% |
Summary: Martin County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.6%, 2 bedroom homes increased by 8.6%, 3 bedroom homes increased by 10.6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes increased by 32.2%.
Median Sold Price Compared To Nearby Counties
| Faribault County | $125K | $152.5K | +22.0% |
| Martin County | $155K | $169.5K | +9.4% |
Housing Supply in Martin County, MN
How many homes are available in Martin County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 89 | 83 | -6.7% |
Summary: The Martin County real estate market had 83 homes for sale in October 2024, a 6.7% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 19 | 20 | +5.3% |
| 3 Bedrooms | 45 | 42 | -6.7% |
| 4 Bedrooms | 19 | 16 | -15.8% |
| 5+ Bedrooms | 4 | 3 | -25.0% |
Summary: The Martin County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 15.8%, and 5+ bedroom homes decreased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 23 | 18 | -21.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Martin County, you could pay more than the asking price. 38.9% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Martin County in October 2024, down by 21.7% month-over-month. Of the 18 sold homes, 33% were sold under asking, 28% were sold at asking, and 39% were sold over asking.
Days on Market for Martin County, MN
How long does it take to sell a home in Martin County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 55 Days | +10.3% |
Summary: Homes in Martin County had an average of 55 days on market in Oct 2024, up by 10.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Martin County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in Martin County; 61% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
