Is Milaca Township, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Milaca Township is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Milaca Township has remained a Seller's Market.

Key Takeaway

Milaca Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Milaca Township, MN

How much do homes in Milaca Township, MN cost?

Median Sold Price

$299,450

$172/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$46,950(+18.6%)

Key Takeaway

Homes in Milaca Township have sold for 18.6% more than they did a year ago.

Summary: The median home sold price in Milaca Township was $299,450 in October 2024, up 18.6% from last year, and the median price per square foot was $172.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $185K$129.7K
-29.9%
2 $212.1K$237.5K
+12.0%
3 $275.5K$315K
+14.3%
4 $315K$349.5K
+11.0%
5+ $426.5K$422.4K
-0.9%

Summary: Milaca Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 29.9%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 11%, and 5+ bedroom homes decreased by 0.9%.

Median Sold Price Compared To Nearby Cities

Milaca Township
+18.6%
Milaca
+16.6%

Housing Supply in Milaca Township, MN

How many homes are available in Milaca Township, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3635-2.8%

Summary: The Milaca Township real estate market had 35 homes for sale in October 2024, a 2.8% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 21
-50.0%
2 24
+100.0%
3 1817
-5.6%
4 1211
-8.3%
5+ 22
0.0%

Summary: The Milaca Township housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 5.6%, 4 bedroom homes decreased by 8.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
87-12.5%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Milaca Township, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.

Summary: A total of 7 homes were sold or pending in Milaca Township in October 2024, down by 12.5% month-over-month. Of the 7 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.

Days on Market for Milaca Township, MN

How long does it take to sell a home in Milaca Township, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
52 Days54 Days+3.9%

Summary: Homes in Milaca Township had an average of 54 days on market in Oct 2024, up by 3.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Milaca Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 7 homes were sold in Milaca Township; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Milaca Township, MN

Nearby Markets to Milaca Township, MN