$7,410 Closing Credit*
$624,000
1,812 SqFt
4 Beds
•1 Full Bath
Listing Office: Realty Group LLC
Is Orono, 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, Orono has remained a Seller's Market.
Key Takeaway
Orono is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Orono, MN
How much do homes in Orono, MN cost?
Median Sold Price
$1,130,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$5,000(+0.4%)
Key Takeaway
The sold price of homes in Orono has remained the same since last year.
Summary: The median home sold price in Orono was $1,130,000 in October 2024, up 0.4% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $174.2K | $720K | +313.2% |
| 2 Bedrooms | $380K | $335K | -11.8% |
| 3 Bedrooms | $534.8K | $614K | +14.8% |
| 4 Bedrooms | $1.5M | $1.5M | -0.5% |
| 5+ Bedrooms | $1.8M | $1.7M | -7.1% |
Summary: Orono housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 313.2%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes increased by 14.8%, 4 bedroom homes decreased by 0.5%, and 5+ bedroom homes decreased by 7.1%.
Median Sold Price Compared To Nearby Cities
| Long Lake | $563.5K | $980K | +73.9% |
| Orono | $1.1M | $1.1M | 0.4% |
| Shorewood | $775K | $657.5K | -15.2% |
Housing Supply in Orono, MN
How many homes are available in Orono, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 95 | +10.5% |
Summary: The Orono real estate market had 95 homes for sale in October 2024, a 10.5% 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 | 4 | 6 | +50.0% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 27 | 25 | -7.4% |
| 5+ Bedrooms | 31 | 36 | +16.1% |
Summary: The Orono 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 increased by 16.7%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes increased by 16.1%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 16 | +60.0% |
Asking Price vs. Sold Price
12 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 Orono, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Orono in October 2024, up by 60.0% month-over-month. Of the 16 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Orono, MN
How long does it take to sell a home in Orono, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 54 Days | +11.9% |
Summary: Homes in Orono had an average of 54 days on market in Oct 2024, up by 11.9% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Orono are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in Orono; 38% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
