$2,575,000
Land
Listing Office: Keller Williams Classic Rlty NW
Is Medina, 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, Medina has remained a Buyer's Market.
Key Takeaway
Medina is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Medina, MN
How much do homes in Medina, MN cost?
Median Sold Price
$820,682
$238/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$35,682(+4.5%)
Key Takeaway
Homes in Medina have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Medina was $820,682 in October 2024, up 4.5% from last year, and the median price per square foot was $238.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $567K | - | N/A |
| 2 Bedrooms | $295K | $325K | +10.2% |
| 3 Bedrooms | $470.3K | $499.9K | +6.3% |
| 4 Bedrooms | $738.5K | $755K | +2.2% |
| 5+ Bedrooms | $944.9K | $1.2M | +27.5% |
Summary: Medina 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 10.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 27.5%.
Housing Supply in Medina, MN
How many homes are available in Medina, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 47 | 55 | +17.0% |
Summary: The Medina real estate market had 55 homes for sale in October 2024, a 17.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 13 | 18 | +38.5% |
| 4 Bedrooms | 15 | 15 | 0.0% |
| 5+ Bedrooms | 17 | 18 | +5.9% |
Summary: The Medina 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 100%, 3 bedroom homes increased by 38.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 5.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 7 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 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. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Medina in October 2024, the same as the previous month. Of the 7 sold homes, 71% were sold under asking, 0% were sold at asking, and 29% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 23 Days | -24.6% |
Summary: Homes in Medina had an average of 23 days on market in Oct 2024, down by 24.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medina are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 7 homes were sold in Medina; 71% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
