$135,000
Land
Listing Office: RE/MAX Experience
Is Norwood Young America, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Norwood Young America has remained a Seller's Market.
Key Takeaway
Norwood Young America is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Norwood Young America, MN
How much do homes in Norwood Young America, MN cost?
Median Sold Price
$310,000
$159/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$55,000(+21.6%)
Key Takeaway
Homes in Norwood Young America have sold for 21.6% more than they did a month ago.
Summary: The median home sold price in Norwood Young America was $310,000 in October 2024, up 21.6% from last month, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $172K | $262.5K | +52.6% |
| 3 Bedrooms | $268K | $330K | +23.1% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Norwood Young America housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 52.6%, 3 bedroom homes increased by 23.1%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Young America Township | $238K | $330K | +38.7% |
| Norwood Young America | $255K | $310K | +21.6% |
| Young America | $238K | $272.5K | +14.5% |
Housing Supply in Norwood Young America, MN
How many homes are available in Norwood Young America, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 16 | +14.3% |
Summary: The Norwood Young America real estate market had 16 homes for sale in October 2024, a 14.3% increase 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 | 2 | 3 | +50.0% |
| 3 Bedrooms | 6 | 6 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Norwood Young America 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 increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
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 Norwood Young America, 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 Norwood Young America in October 2024, down by 40.0% 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 Norwood Young America, MN
How long does it take to sell a home in Norwood Young America, MN?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 19 Days | -38.8% |
Summary: Homes in Norwood Young America had an average of 19 days on market in Oct 2024, down by 38.8% compared to last month.
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 Norwood Young America are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Norwood Young America; 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.
