$399,900
Land
Listing Office: Affinity Real Estate Inc.
Is Nevis, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Nevis was a Seller's Market.
Key Takeaway
Nevis is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Nevis, MN
How much do homes in Nevis, MN cost?
Median Sold Price
$381,750
$252/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,300(+2.5%)
Key Takeaway
Homes in Nevis have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in Nevis was $381,750 in October 2024, up 2.5% from last year, and the median price per square foot was $252.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128.5K | $161.5K | +25.7% |
| 2 Bedrooms | $330K | $400.5K | +21.4% |
| 3 Bedrooms | $304.5K | $382.5K | +25.6% |
| 4 Bedrooms | $742.5K | $900K | +21.2% |
| 5+ Bedrooms | $657.5K | $421.4K | -35.9% |
Summary: Nevis housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.7%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 21.2%, and 5+ bedroom homes decreased by 35.9%.
Median Sold Price Compared To Nearby Cities
| Nevis | $372.4K | $381.7K | +2.5% |
| Nevis Township | $372.4K | $381.7K | +2.5% |
Housing Supply in Nevis, MN
How many homes are available in Nevis, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 23 | -8.0% |
Summary: The Nevis real estate market had 23 homes for sale in October 2024, a 8.0% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 7 | 5 | -28.6% |
| 3 Bedrooms | 4 | 6 | +50.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Nevis housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 7 | 2 | -71.4% |
Asking Price vs. Sold Price
0 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 Nevis, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 2 homes were sold or pending in Nevis in October 2024, down by 71.4% month-over-month. Of the 2 sold homes, 0% were sold under asking, 50% were sold at asking, and 50% were sold over asking.
Days on Market for Nevis, MN
How long does it take to sell a home in Nevis, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 30 Days | 11 Days | -63.7% |
Summary: Homes in Nevis had an average of 11 days on market in Oct 2024, down by 63.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nevis are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Nevis; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
