$3,086 Closing Credit*
$259,900
1,653 SqFt
4 Beds
•2 Full Baths, 1 Partial
Listing Office: True Real Estate
Is North Mankato, 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, North Mankato was a Seller's Market.
Key Takeaway
North Mankato is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Mankato, MN
How much do homes in North Mankato, MN cost?
Median Sold Price
$341,000
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$46,000(+15.6%)
Key Takeaway
Homes in North Mankato have sold for 15.6% more than they did a year ago.
Summary: The median home sold price in North Mankato was $341,000 in November 2024, up 15.6% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $226K | $319.5K | +41.4% |
| 3 Bedrooms | $249.9K | $309.9K | +24.0% |
| 4 Bedrooms | $343K | $347.2K | +1.2% |
| 5+ Bedrooms | $437.9K | $404.7K | -7.6% |
Summary: North Mankato housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 41.4%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 1.2%, and 5+ bedroom homes decreased by 7.6%.
Median Sold Price Compared To Nearby Cities
| North Mankato | $295K | $341K | +15.6% |
| Belgrade Township | $230K | $265K | +15.2% |
| Mankato | $290K | $305K | +5.2% |
Housing Supply in North Mankato, MN
How many homes are available in North Mankato, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 28 | -3.4% |
Summary: The North Mankato real estate market had 28 homes for sale in November 2024, a 3.4% 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 | 3 | 2 | -33.3% |
| 3 Bedrooms | 11 | 9 | -18.2% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The North Mankato 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 33.3%, 3 bedroom homes decreased by 18.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
Asking Price vs. Sold Price
2 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 North Mankato, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in North Mankato in November 2024, down by 62.5% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for North Mankato, MN
How long does it take to sell a home in North Mankato, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 36 Days | -9.7% |
Summary: Homes in North Mankato had an average of 36 days on market in Nov 2024, down by 9.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Mankato are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in North Mankato; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
