Is New Prague, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Prague is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, New Prague was a Seller's Market.

Key Takeaway

New Prague is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in New Prague, MN

How much do homes in New Prague, MN cost?

Median Sold Price

$376,500

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$11,500(+3.2%)

Key Takeaway

Homes in New Prague have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in New Prague was $376,500 in October 2024, up 3.2% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $247K-
N/A
2 $242.5K$279.9K
+15.4%
3 $300K$352.5K
+17.5%
4 $410K$355K
-13.4%
5+ $480K$497.5K
+3.6%

Summary: New Prague 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 increased by 15.4%, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 13.4%, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

New Prague
+3.4%
New Prague
+3.2%

Housing Supply in New Prague, MN

How many homes are available in New Prague, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3748+29.7%

Summary: The New Prague real estate market had 48 homes for sale in October 2024, a 29.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 57
+40.0%
3 1110
-9.1%
4 1723
+35.3%
5+ 48
+100.0%

Summary: The New Prague 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 increased by 40%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes increased by 35.3%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
108-20.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Prague, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 8 homes were sold or pending in New Prague in October 2024, down by 20.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.

Days on Market for New Prague, MN

How long does it take to sell a home in New Prague, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
28 Days47 Days+68.4%

Summary: Homes in New Prague had an average of 47 days on market in Oct 2024, up by 68.4% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in New Prague are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 8 homes were sold in New Prague; 63% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 5 Days Ago

Newest Listings in New Prague, MN

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