Is Pamela Park, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Pamela Park is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Pamela Park was a Buyer's Market.

Key Takeaway

Pamela Park 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 Pamela Park, MN

How much do homes in Pamela Park, MN cost?

Median Sold Price

$575,000

$275/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$88,750(-13.4%)

Key Takeaway

Homes in Pamela Park have sold for 13.4% less than they did a year ago.

Summary: The median home sold price in Pamela Park was $575,000 in October 2024, down 13.4% from last year, and the median price per square foot was $275.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 -$477.7K
N/A
3 $518K$517.4K
-0.1%
4 $515K$537.5K
+4.4%
5+ $1.6M$1.7M
+0.9%

Summary: Pamela Park 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 did not change, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 0.9%.

Median Sold Price Compared To Nearby Neighborhoods

Minnehaha Woods
+10.4%
Chowen Park
+3.9%
Pamela Park
-13.4%

Housing Supply in Pamela Park, MN

How many homes are available in Pamela Park, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1320+53.8%

Summary: The Pamela Park real estate market had 20 homes for sale in October 2024, a 53.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 00
0.0%
3 66
0.0%
4 48
+100.0%
5+ 36
+100.0%

Summary: The Pamela Park 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 remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
03+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Pamela Park, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 3 homes were sold or pending in Pamela Park in October 2024, up by 100.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.

Days on Market for Pamela Park, MN

How long does it take to sell a home in Pamela Park, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
5 Days117 Days+2253.3%

Summary: Homes in Pamela Park had an average of 117 days on market in Oct 2024, up by 2253.3% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Pamela Park are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 3 homes were sold in Pamela Park; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Pamela Park, MN

Nearby Markets to Pamela Park, MN