$889 Closing Credit*
$74,900
1,140 SqFt
1 Bed
•1 Bath
Listing Office: eXp Realty
Is Owatonna, 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, Owatonna has remained a Seller's Market.
Key Takeaway
Owatonna is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Owatonna, MN
How much do homes in Owatonna, MN cost?
Median Sold Price
$281,000
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$11,000(+4.1%)
Key Takeaway
Homes in Owatonna have sold for 4.1% more than they did a year ago.
Summary: The median home sold price in Owatonna was $281,000 in October 2024, up 4.1% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $152.4K | -12.9% |
| 2 Bedrooms | $225K | $234.9K | +4.4% |
| 3 Bedrooms | $252K | $268K | +6.3% |
| 4 Bedrooms | $299K | $323K | +8.0% |
| 5+ Bedrooms | $354K | $440K | +24.3% |
Summary: Owatonna housing prices by bedroom type for October 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 6.3%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 24.3%.
Median Sold Price Compared To Nearby Cities
| Owatonna | $270K | $281K | +4.1% |
| Owatonna Township | $270K | $281K | +4.1% |
Housing Supply in Owatonna, MN
How many homes are available in Owatonna, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 109 | 118 | +8.3% |
Summary: The Owatonna real estate market had 118 homes for sale in October 2024, a 8.3% 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 | 18 | 20 | +11.1% |
| 3 Bedrooms | 37 | 42 | +13.5% |
| 4 Bedrooms | 33 | 37 | +12.1% |
| 5+ Bedrooms | 21 | 19 | -9.5% |
Summary: The Owatonna 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 11.1%, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 12.1%, and 5+ bedroom homes decreased by 9.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 | 24 | -25.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Owatonna, expect to pay close to the asking price. 41.7% of homes here sold near the asking price last month.
Summary: A total of 24 homes were sold or pending in Owatonna in October 2024, down by 25.0% month-over-month. Of the 24 sold homes, 38% were sold under asking, 42% were sold at asking, and 21% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 23 Days | 38 Days | +60.7% |
Summary: Homes in Owatonna had an average of 38 days on market in Oct 2024, up by 60.7% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Owatonna are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 24 homes were sold in Owatonna; 54% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
