$5,492 Closing Credit*
$462,510
1,804 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Lennar Sales Corp
Is Medina, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Medina has remained a Seller's Market.
Key Takeaway
Medina is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medina, MN
How much do homes in Medina, MN cost?
Median Sold Price
$855,187
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$70,187(+8.9%)
Key Takeaway
Homes in Medina have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Medina was $855,187 in November 2024, up 8.9% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $567K | - | N/A |
| 2 Bedrooms | $305K | $285K | -6.6% |
| 3 Bedrooms | $455K | $628K | +38.0% |
| 4 Bedrooms | $737K | $772.5K | +4.8% |
| 5+ Bedrooms | $939.9K | $1.2M | +30.3% |
Summary: Medina housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.6%, 3 bedroom homes increased by 38%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 30.3%.
Housing Supply in Medina, MN
How many homes are available in Medina, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 50 | 49 | -2.0% |
Summary: The Medina real estate market had 49 homes for sale in November 2024, a 2.0% 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 | 4 | 4 | 0.0% |
| 3 Bedrooms | 15 | 16 | +6.7% |
| 4 Bedrooms | 14 | 12 | -14.3% |
| 5+ Bedrooms | 17 | 17 | 0.0% |
Summary: The Medina 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 remained the same, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 9 | +12.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medina, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Medina in November 2024, up by 12.5% month-over-month. Of the 9 sold homes, 56% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Medina, MN
How long does it take to sell a home in Medina, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 31 Days | 40 Days | +28.6% |
Summary: Homes in Medina had an average of 40 days on market in Nov 2024, up by 28.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Medina are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Medina; 56% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
