$5,343 Closing Credit*
$449,900
2,324 SqFt
4 Beds
•2 Full Baths
Listing Office: RE/MAX RESULTS
Is Oak Grove, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Oak Grove was a Seller's Market.
Key Takeaway
Oak Grove 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 Oak Grove, MN
How much do homes in Oak Grove, MN cost?
Median Sold Price
$480,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$30,000(+6.7%)
Key Takeaway
Homes in Oak Grove have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Oak Grove was $480,000 in October 2024, up 6.7% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $322K | $260K | -19.3% |
| 3 Bedrooms | $406K | $378.7K | -6.7% |
| 4 Bedrooms | $520K | $500.5K | -3.8% |
| 5+ Bedrooms | $495K | $500K | +1.0% |
Summary: Oak Grove housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 19.3%, 3 bedroom homes decreased by 6.7%, 4 bedroom homes decreased by 3.8%, and 5+ bedroom homes increased by 1%.
Median Sold Price Compared To Nearby Cities
| Oak Grove | $450K | $480K | +6.7% |
| Saint Francis | $339K | $359.7K | +6.1% |
| East Bethel | $390K | $412.5K | +5.8% |
| Andover | $435K | $450K | +3.4% |
| Cedar | $440K | $447.5K | +1.7% |
Housing Supply in Oak Grove, MN
How many homes are available in Oak Grove, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 46 | 53 | +15.2% |
Summary: The Oak Grove real estate market had 53 homes for sale in October 2024, a 15.2% 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 | 6 | 6 | 0.0% |
| 3 Bedrooms | 16 | 19 | +18.8% |
| 4 Bedrooms | 20 | 23 | +15.0% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Oak Grove 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 remained the same, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 15%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Oak Grove, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Oak Grove in October 2024, up by 60.0% month-over-month. Of the 8 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Oak Grove, MN
How long does it take to sell a home in Oak Grove, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 43 Days | 36 Days | -16.5% |
Summary: Homes in Oak Grove had an average of 36 days on market in Oct 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Oak Grove are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 8 homes were sold in Oak Grove; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
