$1,127 Closing Credit*
$94,900
1,487 SqFt
3 Beds
•2 Baths
Listing Office: Park Co., REALTORS®
Is Norman County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Norman County was a Seller's Market.
Key Takeaway
Norman County 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 Norman County, MN
How much do homes in Norman County, MN cost?
Median Sold Price
$165,000
$81/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$15,500(+10.4%)
Key Takeaway
Homes in Norman County have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Norman County was $165,000 in November 2024, up 10.4% from last year, and the median price per square foot was $81.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $39.7K | $165K | +315.1% |
| 2 Bedrooms | $105K | $178K | +69.5% |
| 3 Bedrooms | $160K | $154.5K | -3.4% |
| 4 Bedrooms | $172K | $174.4K | +1.4% |
| 5+ Bedrooms | $353K | $100K | -71.7% |
Summary: Norman County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 315.1%, 2 bedroom homes increased by 69.5%, 3 bedroom homes decreased by 3.4%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes decreased by 71.7%.
Median Sold Price Compared To Nearby Counties
| Polk County | $167K | $185K | +10.8% |
| Norman County | $149.5K | $165K | +10.4% |
| Cass County | $304.7K | $316.2K | +3.8% |
| Clay County | $262.4K | $265K | +1.0% |
Housing Supply in Norman County, MN
How many homes are available in Norman County, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 60 | 46 | -23.3% |
Summary: The Norman County real estate market had 46 homes for sale in November 2024, a 23.3% 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 | 14 | 14 | 0.0% |
| 3 Bedrooms | 28 | 20 | -28.6% |
| 4 Bedrooms | 16 | 10 | -37.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Norman County 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 remained the same, 3 bedroom homes decreased by 28.6%, 4 bedroom homes decreased by 37.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 12 | 7 | -41.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Norman County, you may be able to get a good deal. 85.7% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Norman County in November 2024, down by 41.7% month-over-month. Of the 7 sold homes, 86% were sold under asking, 0% were sold at asking, and 14% were sold over asking.
Days on Market for Norman County, MN
How long does it take to sell a home in Norman County, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 131 Days | 54 Days | -58.6% |
Summary: Homes in Norman County had an average of 54 days on market in Nov 2024, down by 58.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Norman County has remained consistent over time.
Summary: During November 2024, 7 homes were sold in Norman County; 14% of homes were sold within 30 days, 71% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
