$7,124 Closing Credit*
$599,900
2,279 SqFt
3 Beds
•1 Full Bath
Listing Office: Coldwell Banker Realty
Is Mille Lacs County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Mille Lacs County was a Seller's Market.
Key Takeaway
Mille Lacs County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Mille Lacs County, MN
How much do homes in Mille Lacs County, MN cost?
Median Sold Price
$315,000
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,025(+5.0%)
Key Takeaway
Homes in Mille Lacs County have sold for 5% more than they did a year ago.
Summary: The median home sold price in Mille Lacs County was $315,000 in November 2024, up 5% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $134K | $93.5K | -30.2% |
| 2 Bedrooms | $251K | $260K | +3.6% |
| 3 Bedrooms | $309K | $315K | +1.9% |
| 4 Bedrooms | $325.7K | $373.5K | +14.7% |
| 5+ Bedrooms | $419.5K | $495K | +18.0% |
Summary: Mille Lacs County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 30.2%, 2 bedroom homes increased by 3.6%, 3 bedroom homes increased by 1.9%, 4 bedroom homes increased by 14.7%, and 5+ bedroom homes increased by 18%.
Median Sold Price Compared To Nearby Counties
| Kanabec County | $249.9K | $280K | +12.0% |
| Mille Lacs County | $299.9K | $315K | +5.0% |
| Morrison County | $245K | $256.9K | +4.9% |
| Sherburne County | $356.3K | $372.5K | +4.5% |
| Isanti County | $315K | $316.6K | 0.5% |
Housing Supply in Mille Lacs County, MN
How many homes are available in Mille Lacs County, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 174 | 158 | -9.2% |
Summary: The Mille Lacs County real estate market had 158 homes for sale in November 2024, a 9.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 37 | 33 | -10.8% |
| 3 Bedrooms | 73 | 67 | -8.2% |
| 4 Bedrooms | 39 | 38 | -2.6% |
| 5+ Bedrooms | 16 | 11 | -31.3% |
Summary: The Mille Lacs County 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 decreased by 10.8%, 3 bedroom homes decreased by 8.2%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 31.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 | 23 | -48.9% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mille Lacs County, you may be able to get a good deal. 56.5% of homes here sold below asking price last month.
Summary: A total of 23 homes were sold or pending in Mille Lacs County in November 2024, down by 48.9% month-over-month. Of the 23 sold homes, 57% were sold under asking, 22% were sold at asking, and 22% were sold over asking.
Days on Market for Mille Lacs County, MN
How long does it take to sell a home in Mille Lacs County, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 53 Days | 64 Days | +21.3% |
Summary: Homes in Mille Lacs County had an average of 64 days on market in Nov 2024, up by 21.3% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
10 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Mille Lacs County has remained consistent over time.
Summary: During November 2024, 23 homes were sold in Mille Lacs County; 26% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 30% of homes were sold over 90 days.
