$2,363 Closing Credit*
$199,000
1,580 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Weichert REALTORS Tower Properties
Is Montevideo, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 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
$165,500
$103/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
-$10,950(-6.2%)
Key Takeaway
Homes in Montevideo have sold for 6.2% less than they did a year ago.
Summary: The median home sold price in Montevideo was $165,500 in December 2024, down 6.2% from last year, and the median price per square foot was $103.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $57K | $83.8K | +47.0% |
| 2 Bedrooms | $121K | $125K | +3.3% |
| 3 Bedrooms | $185K | $171K | -7.6% |
| 4 Bedrooms | $194.5K | $230K | +18.3% |
| 5+ Bedrooms | $459.1K | $370K | -19.4% |
Summary: Montevideo housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 47%, 2 bedroom homes increased by 3.3%, 3 bedroom homes decreased by 7.6%, 4 bedroom homes increased by 18.3%, and 5+ bedroom homes decreased by 19.4%.
Housing Supply in Montevideo, MN
How many homes are available in Montevideo, MN?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 45 | 43 | -4.4% |
Summary: The Montevideo real estate market had 43 homes for sale in December 2024, a 4.4% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 21 | 18 | -14.3% |
| 4 Bedrooms | 14 | 16 | +14.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Montevideo housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
8 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. 80% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Montevideo in December 2024, up by 11.1% month-over-month. Of the 10 sold homes, 80% were sold under asking, 10% were sold at asking, and 10% 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
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 32 Days | 55 Days | +70.2% |
Summary: Homes in Montevideo had an average of 55 days on market in Dec 2024, up by 70.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 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 December 2024, 10 homes were sold in Montevideo; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
