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 20 Days Ago

Newest Listings in New Prague, MN

Nearby Markets to New Prague, MN