$3,551 Closing Credit*
$299,000
932 SqFt
2 Beds
•1 Full Bath
Listing Office: eXp Realty
Is Orono, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$1,125,000
$287/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$100,000(+9.8%)
Key Takeaway
Homes in Orono have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Orono was $1,125,000 in November 2024, up 9.8% from last year, and the median price per square foot was $287.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $174.2K | $720K | +313.2% |
| 2 Bedrooms | $380K | $344.2K | -9.4% |
| 3 Bedrooms | $534.8K | $610K | +14.1% |
| 4 Bedrooms | $1.6M | $1.5M | -7.4% |
| 5+ Bedrooms | $1.8M | $1.7M | -8.0% |
Summary: Orono housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 313.2%, 2 bedroom homes decreased by 9.4%, 3 bedroom homes increased by 14.1%, 4 bedroom homes decreased by 7.4%, and 5+ bedroom homes decreased by 8%.
Median Sold Price Compared To Nearby Cities
| Long Lake | $556K | $984.5K | +77.1% |
| Orono | $1.0M | $1.1M | +9.8% |
| Shorewood | $767.5K | $650K | -15.3% |
Housing Supply in Orono, MN
How many homes are available in Orono, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 84 | 78 | -7.1% |
Summary: The Orono real estate market had 78 homes for sale in November 2024, a 7.1% 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 | 5 | 6 | +20.0% |
| 3 Bedrooms | 25 | 21 | -16.0% |
| 4 Bedrooms | 23 | 21 | -8.7% |
| 5+ Bedrooms | 31 | 30 | -3.2% |
Summary: The Orono 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 increased by 20%, 3 bedroom homes decreased by 16%, 4 bedroom homes decreased by 8.7%, and 5+ bedroom homes decreased by 3.2%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 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. 57.1% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Orono in November 2024, down by 17.6% month-over-month. Of the 14 sold homes, 57% were sold under asking, 29% were sold at asking, and 14% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 53 Days | +18.8% |
Summary: Homes in Orono had an average of 53 days on market in Nov 2024, up by 18.8% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Orono has remained consistent over time.
Summary: During November 2024, 14 homes were sold in Orono; 36% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
