$3,800 Closing Credit*
$320,000
1,440 SqFt
2 Beds
•1 Full Bath
Listing Office: eXp Realty
Is Nisswa, 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, Nisswa has remained a Seller's Market.
Key Takeaway
Nisswa is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nisswa, MN
How much do homes in Nisswa, MN cost?
Median Sold Price
$590,000
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$27,450(-4.4%)
Key Takeaway
Homes in Nisswa have sold for 4.4% less than they did a year ago.
Summary: The median home sold price in Nisswa was $590,000 in October 2024, down 4.4% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $256.2K | $390K | +52.2% |
| 2 Bedrooms | $397.5K | $385.5K | -3.0% |
| 3 Bedrooms | $499K | $535.5K | +7.3% |
| 4 Bedrooms | $756.2K | $733.9K | -2.9% |
| 5+ Bedrooms | $1.0M | $1.4M | +32.9% |
Summary: Nisswa housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.2%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes increased by 32.9%.
Median Sold Price Compared To Nearby Cities
| Lake Shore | $650K | $730.9K | +12.5% |
| Nisswa | $617.4K | $590K | -4.4% |
| Pequot Lakes | $422K | $382K | -9.5% |
| Pequot Lakes | $425K | $384K | -9.6% |
| Lake Edward Township | $435K | $387.5K | -10.9% |
Housing Supply in Nisswa, MN
How many homes are available in Nisswa, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 62 | 52 | -16.1% |
Summary: The Nisswa real estate market had 52 homes for sale in October 2024, a 16.1% decrease 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 | 11 | 7 | -36.4% |
| 3 Bedrooms | 23 | 20 | -13.0% |
| 4 Bedrooms | 15 | 11 | -26.7% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Nisswa 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 decreased by 36.4%, 3 bedroom homes decreased by 13%, 4 bedroom homes decreased by 26.7%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nisswa, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Nisswa in October 2024, down by 6.3% month-over-month. Of the 15 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 18 Days | 28 Days | +53.6% |
Summary: Homes in Nisswa had an average of 28 days on market in Oct 2024, up by 53.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 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 October 2024, 15 homes were sold in Nisswa; 73% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
