$985,000
Land
Listing Office: Kubes Realty Inc
Is New Market Township, 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, New Market Township has remained a Buyer's Market.
Key Takeaway
New Market Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in New Market Township, MN
How much do homes in New Market Township, MN cost?
Median Sold Price
$625,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$1,000(+0.2%)
Key Takeaway
The sold price of homes in New Market Township has remained the same since last year.
Summary: The median home sold price in New Market Township was $625,000 in October 2024, up 0.2% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $475K | - | N/A |
| 3 Bedrooms | $462.4K | $452.1K | -2.2% |
| 4 Bedrooms | $730K | $680K | -6.8% |
| 5+ Bedrooms | $627K | $665K | +6.1% |
Summary: New Market Township 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 did not change, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 6.8%, and 5+ bedroom homes increased by 6.1%.
Median Sold Price Compared To Nearby Cities
| Cedar Lake Township | $667.1K | $834.9K | +25.2% |
| New Market Township | $624K | $625K | 0.2% |
| Elko New Market | $475K | $448.6K | -5.5% |
Housing Supply in New Market Township, MN
How many homes are available in New Market Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The New Market Township real estate market had 21 homes for sale in October 2024, a 5.0% 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 | 7 | 9 | +28.6% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The New Market Township 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 increased by 28.6%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New Market Township, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in New Market Township in October 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for New Market Township, MN
How long does it take to sell a home in New Market Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 46 Days | +142.1% |
Summary: Homes in New Market Township had an average of 46 days on market in Oct 2024, up by 142.1% compared to last year.
Breakdown of Home Sale Times
1 Home Was 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 Market Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in New Market Township; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
