Listing Office: Mages Land Co & Auction
Is McLeod 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, McLeod County has remained a Seller's Market.
Key Takeaway
McLeod County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in McLeod County, MN
How much do homes in McLeod County, MN cost?
Median Sold Price
$256,625
$145/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,625(+2.2%)
Key Takeaway
Homes in McLeod County have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in McLeod County was $256,625 in October 2024, up 2.2% from last year, and the median price per square foot was $145.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $98.5K | $154.5K | +56.9% |
| 2 Bedrooms | $224.9K | $216K | -4.0% |
| 3 Bedrooms | $245K | $244.9K | 0% |
| 4 Bedrooms | $290.7K | $291.5K | 0.3% |
| 5+ Bedrooms | $378.9K | $376.1K | -0.7% |
Summary: McLeod County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 56.9%, 2 bedroom homes decreased by 4%, 3 bedroom homes did not change, 4 bedroom homes increased by 0.3%, and 5+ bedroom homes decreased by 0.7%.
Median Sold Price Compared To Nearby Counties
| Meeker County | $252K | $267.5K | +6.2% |
| Carver County | $434K | $449.9K | +3.7% |
| McLeod County | $251K | $256.6K | +2.2% |
| Wright County | $374.9K | $374.8K | 0% |
| Sibley County | $220K | $215K | -2.3% |
Housing Supply in McLeod County, MN
How many homes are available in McLeod County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 146 | 154 | +5.5% |
Summary: The McLeod County real estate market had 154 homes for sale in October 2024, a 5.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 25 | +4.2% |
| 3 Bedrooms | 60 | 65 | +8.3% |
| 4 Bedrooms | 46 | 49 | +6.5% |
| 5+ Bedrooms | 15 | 14 | -6.7% |
Summary: The McLeod 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 4.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 6.5%, and 5+ bedroom homes decreased by 6.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 38 | +18.8% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in McLeod County, you may be able to get a good deal. 42.1% of homes here sold below asking price last month.
Summary: A total of 38 homes were sold or pending in McLeod County in October 2024, up by 18.8% month-over-month. Of the 38 sold homes, 42% were sold under asking, 26% were sold at asking, and 32% were sold over asking.
Days on Market for McLeod County, MN
How long does it take to sell a home in McLeod County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 28 Days | 39 Days | +37.8% |
Summary: Homes in McLeod County had an average of 39 days on market in Oct 2024, up by 37.8% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in McLeod County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 38 homes were sold in McLeod County; 55% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
