$365,000
Land
Listing Office: Kurilla Real Estate LTD
Is Nisswa, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Nisswa has remained a Neutral Market.
Key Takeaway
Nisswa 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 Nisswa, MN
How much do homes in Nisswa, MN cost?
Median Sold Price
$575,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$57,500(-9.1%)
Key Takeaway
Homes in Nisswa have sold for 9.1% less than they did a year ago.
Summary: The median home sold price in Nisswa was $575,000 in November 2024, down 9.1% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $315K | $390K | +23.8% |
| 2 Bedrooms | $446K | $315K | -29.4% |
| 3 Bedrooms | $535K | $535K | 0.0% |
| 4 Bedrooms | $742.5K | $733.9K | -1.2% |
| 5+ Bedrooms | $1.0M | $1.3M | +25.5% |
Summary: Nisswa housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 23.8%, 2 bedroom homes decreased by 29.4%, 3 bedroom homes did not change, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 25.5%.
Median Sold Price Compared To Nearby Cities
| Nisswa | $632.5K | $575K | -9.1% |
| Pequot Lakes | $425K | $379.6K | -10.7% |
| Pequot Lakes | $428K | $379.9K | -11.2% |
| Lake Edward Township | $464.5K | $390K | -16.0% |
Housing Supply in Nisswa, MN
How many homes are available in Nisswa, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 49 | 40 | -18.4% |
Summary: The Nisswa real estate market had 40 homes for sale in November 2024, a 18.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 6 | -14.3% |
| 3 Bedrooms | 19 | 16 | -15.8% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 13 | 9 | -30.8% |
Summary: The Nisswa housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 14.3%, 3 bedroom homes decreased by 15.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 30.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 15 | 6 | -60.0% |
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 Nisswa, 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 Nisswa in November 2024, down by 60.0% 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 Nisswa, MN
How long does it take to sell a home in Nisswa, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 18 Days | 63 Days | +253.7% |
Summary: Homes in Nisswa had an average of 63 days on market in Nov 2024, up by 253.7% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Nisswa are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Nisswa; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
