$3,741 Closing Credit*
$315,000
1,058 SqFt
2 Beds
•1 Full Bath
Listing Office: Keller Williams Preferred Rlty
Is Nokomis, 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, Nokomis has remained a Seller's Market.
Key Takeaway
Nokomis is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Nokomis, MN
How much do homes in Nokomis, MN cost?
Median Sold Price
$359,010
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,010(+2.6%)
Key Takeaway
Homes in Nokomis have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Nokomis was $359,010 in October 2024, up 2.6% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $190.5K | $203.7K | +7.0% |
| 2 Bedrooms | $276K | $287.5K | +4.2% |
| 3 Bedrooms | $360K | $370K | +2.8% |
| 4 Bedrooms | $424.9K | $440K | +3.5% |
| 5+ Bedrooms | $423.4K | $526K | +24.2% |
Summary: Nokomis housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 24.2%.
Housing Supply in Nokomis, MN
How many homes are available in Nokomis, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 145 | 153 | +5.5% |
Summary: The Nokomis real estate market had 153 homes for sale in October 2024, a 5.5% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 8 | +33.3% |
| 2 Bedrooms | 32 | 30 | -6.3% |
| 3 Bedrooms | 76 | 88 | +15.8% |
| 4 Bedrooms | 25 | 24 | -4.0% |
| 5+ Bedrooms | 6 | 3 | -50.0% |
Summary: The Nokomis housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 6.3%, 3 bedroom homes increased by 15.8%, 4 bedroom homes decreased by 4%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 48 | 47 | -2.1% |
Asking Price vs. Sold Price
15 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
22 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Nokomis, you could pay more than the asking price. 46.8% of homes here sold above asking price last month.
Summary: A total of 47 homes were sold or pending in Nokomis in October 2024, down by 2.1% month-over-month. Of the 47 sold homes, 32% were sold under asking, 21% were sold at asking, and 47% were sold over asking.
Days on Market for Nokomis, MN
How long does it take to sell a home in Nokomis, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 19 Days | +2.3% |
Summary: Homes in Nokomis had an average of 19 days on market in Oct 2024, up by 2.3% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Nokomis are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 47 homes were sold in Nokomis; 74% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
