$2,375 Closing Credit*
$200,000
1,433 SqFt
3 Beds
•1 Full Bath, 1 Partial
Listing Office: Keller Williams Preferred Rlty
Is Owatonna, 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, Owatonna was a Seller's Market.
Key Takeaway
Owatonna 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 Owatonna, MN
How much do homes in Owatonna, MN cost?
Median Sold Price
$280,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,500(+3.1%)
Key Takeaway
Homes in Owatonna have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Owatonna was $280,000 in November 2024, up 3.1% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $152.4K | -12.9% |
| 2 Bedrooms | $225K | $234.9K | +4.4% |
| 3 Bedrooms | $258K | $268.9K | +4.2% |
| 4 Bedrooms | $307K | $320K | +4.2% |
| 5+ Bedrooms | $354K | $440K | +24.3% |
Summary: Owatonna housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.9%, 2 bedroom homes increased by 4.4%, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 24.3%.
Median Sold Price Compared To Nearby Cities
| Owatonna | $271.5K | $280K | +3.1% |
| Owatonna Township | $273.4K | $280K | +2.4% |
Housing Supply in Owatonna, MN
How many homes are available in Owatonna, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 114 | 107 | -6.1% |
Summary: The Owatonna real estate market had 107 homes for sale in November 2024, a 6.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 21 | 19 | -9.5% |
| 3 Bedrooms | 40 | 43 | +7.5% |
| 4 Bedrooms | 37 | 28 | -24.3% |
| 5+ Bedrooms | 16 | 16 | 0.0% |
Summary: The Owatonna housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 9.5%, 3 bedroom homes increased by 7.5%, 4 bedroom homes decreased by 24.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 25 | 17 | -32.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owatonna, you may be able to get a good deal. 41.2% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Owatonna in November 2024, down by 32.0% month-over-month. Of the 17 sold homes, 41% were sold under asking, 24% were sold at asking, and 35% were sold over asking.
Days on Market for Owatonna, MN
How long does it take to sell a home in Owatonna, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 23 Days | 30 Days | +31.1% |
Summary: Homes in Owatonna had an average of 30 days on market in Nov 2024, up by 31.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Owatonna are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 17 homes were sold in Owatonna; 59% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
