$949 Closing Credit*
$79,900
1,504 SqFt
4 Beds
•1 Full Bath
Listing Office: Lakes Area Realty, Inc.
Is Montevideo, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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 November 2023
-$10,900(-6.1%)
Key Takeaway
Homes in Montevideo have sold for 6.1% less than they did a year ago.
Summary: The median home sold price in Montevideo was $167,000 in November 2024, down 6.1% from last year, and the median price per square foot was $105.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $65.1K | N/A |
| 2 Bedrooms | $120K | $134.9K | +12.4% |
| 3 Bedrooms | $185K | $172K | -7.0% |
| 4 Bedrooms | $194.5K | $231.7K | +19.2% |
| 5+ Bedrooms | $340K | $370K | +8.8% |
Summary: Montevideo housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 12.4%, 3 bedroom homes decreased by 7%, 4 bedroom homes increased by 19.2%, and 5+ bedroom homes increased by 8.8%.
Housing Supply in Montevideo, MN
How many homes are available in Montevideo, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 45 | -8.2% |
Summary: The Montevideo real estate market had 45 homes for sale in November 2024, a 8.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 24 | 20 | -16.7% |
| 4 Bedrooms | 14 | 14 | 0.0% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Montevideo housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Montevideo, you may be able to get a good deal. 77.8% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Montevideo in November 2024, the same as the previous month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 91 Days | 28 Days | -68.4% |
Summary: Homes in Montevideo had an average of 28 days on market in Nov 2024, down by 68.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Montevideo are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 9 homes were sold in Montevideo; 56% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
