$1,959 Closing Credit*
$165,000
1,154 SqFt
4 Beds
•1 Full Bath
Listing Office: Hughes Real Estate and Auction
Is Montevideo, 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, Montevideo has remained a Seller's Market.
Key Takeaway
Montevideo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Montevideo, MN
How much do homes in Montevideo, MN cost?
Median Sold Price
$167,000
$105/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$2,500(-1.5%)
Key Takeaway
Homes in Montevideo have sold for 1.5% less than they did a year ago.
Summary: The median home sold price in Montevideo was $167,000 in October 2024, down 1.5% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $61K | N/A |
| 2 Bedrooms | $122K | $134.9K | +10.6% |
| 3 Bedrooms | $185.2K | $170K | -8.3% |
| 4 Bedrooms | $194K | $215K | +10.8% |
| 5+ Bedrooms | $438.7K | $355K | -19.1% |
Summary: Montevideo 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 10.6%, 3 bedroom homes decreased by 8.3%, 4 bedroom homes increased by 10.8%, and 5+ bedroom homes decreased by 19.1%.
Housing Supply in Montevideo, MN
How many homes are available in Montevideo, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 39 | 50 | +28.2% |
Summary: The Montevideo real estate market had 50 homes for sale in October 2024, a 28.2% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 7 | +75.0% |
| 3 Bedrooms | 20 | 25 | +25.0% |
| 4 Bedrooms | 11 | 14 | +27.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Montevideo 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 75%, 3 bedroom homes increased by 25%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Montevideo, 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 Montevideo in October 2024, up by 50.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Montevideo, MN
How long does it take to sell a home in Montevideo, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 50 Days | 89 Days | +77.1% |
Summary: Homes in Montevideo had an average of 89 days on market in Oct 2024, up by 77.1% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Montevideo are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During October 2024, 9 homes were sold in Montevideo; 33% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 56% of homes were sold over 90 days.
