$2,826 Closing Credit*
$238,000
1,080 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
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 October 2023
Since last year, Mille Lacs County has remained a Seller's Market.
Key Takeaway
Mille Lacs County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mille Lacs County, MN
How much do homes in Mille Lacs County, MN cost?
Median Sold Price
$316,357
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$18,040(+6.0%)
Key Takeaway
Homes in Mille Lacs County have sold for 6% more than they did a year ago.
Summary: The median home sold price in Mille Lacs County was $316,357 in October 2024, up 6% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $140K | $78.5K | -43.9% |
| 2 Bedrooms | $257.4K | $259.9K | +1.0% |
| 3 Bedrooms | $305K | $319.5K | +4.8% |
| 4 Bedrooms | $315K | $373.5K | +18.6% |
| 5+ Bedrooms | $425K | $490K | +15.3% |
Summary: Mille Lacs County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 43.9%, 2 bedroom homes increased by 1%, 3 bedroom homes increased by 4.8%, 4 bedroom homes increased by 18.6%, and 5+ bedroom homes increased by 15.3%.
Median Sold Price Compared To Nearby Counties
| Kanabec County | $250K | $271.9K | +8.8% |
| Morrison County | $239.9K | $257.9K | +7.5% |
| Mille Lacs County | $298.3K | $316.3K | +6.0% |
| Sherburne County | $355K | $369.9K | +4.2% |
| Isanti County | $317.3K | $313.2K | -1.3% |
Housing Supply in Mille Lacs County, MN
How many homes are available in Mille Lacs County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 194 | 187 | -3.6% |
Summary: The Mille Lacs County real estate market had 187 homes for sale in October 2024, a 3.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 9 | 9 | 0.0% |
| 2 Bedrooms | 43 | 42 | -2.3% |
| 3 Bedrooms | 84 | 78 | -7.1% |
| 4 Bedrooms | 43 | 40 | -7.0% |
| 5+ Bedrooms | 15 | 18 | +20.0% |
Summary: The Mille Lacs 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 decreased by 2.3%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 7%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 40 | 36 | -10.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mille Lacs County, you could pay more than the asking price. 38.9% of homes here sold above asking price last month.
Summary: A total of 36 homes were sold or pending in Mille Lacs County in October 2024, down by 10.0% month-over-month. Of the 36 sold homes, 33% were sold under asking, 28% were sold at asking, and 39% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 45 Days | +11.5% |
Summary: Homes in Mille Lacs County had an average of 45 days on market in Oct 2024, up by 11.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mille Lacs County are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 36 homes were sold in Mille Lacs County; 50% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
