$10,000 Closing Credit*
$874,900
5,045 SqFt
5 Beds
•3 Full Baths, 1 Partial
Listing Office: Chestnut Realty Inc
Is New Germany, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, New Germany was a Buyer's Market.
Key Takeaway
New Germany is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in New Germany, MN
How much do homes in New Germany, MN cost?
Median Sold Price
$283,000
$141/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$42,000(-12.9%)
Key Takeaway
Homes in New Germany have sold for 12.9% less than they did a month ago.
Summary: The median home sold price in New Germany was $283,000 in October 2024, down 12.9% from last month, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $325K | $270K | -16.9% |
| 4 Bedrooms | - | $296K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: New Germany housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 16.9%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in New Germany, MN
How many homes are available in New Germany, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 11 | 12 | +9.1% |
Summary: The New Germany real estate market had 12 homes for sale in October 2024, a 9.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 5 | 5 | 0.0% |
| 4 Bedrooms | 4 | 4 | 0.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The New Germany 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 6 | +500.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New Germany, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in New Germany in October 2024, up by 500.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for New Germany, MN
How long does it take to sell a home in New Germany, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 Days | 16 Days | +708.3% |
Summary: Homes in New Germany had an average of 16 days on market in Oct 2024, up by 708.3% compared to last month.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Germany are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in New Germany; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
