$2,613 Closing Credit*
$220,000
2,096 SqFt
4 Beds
•2 Full Baths
Listing Office: Coldwell Banker Realty
Is Paynesville, 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, Paynesville was a Seller's Market.
Key Takeaway
Paynesville is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Paynesville, MN
How much do homes in Paynesville, MN cost?
Median Sold Price
$265,000
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$15,000(-5.4%)
Key Takeaway
Homes in Paynesville have sold for 5.4% less than they did a year ago.
Summary: The median home sold price in Paynesville was $265,000 in November 2024, down 5.4% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $220K | $259.8K | +18.1% |
| 3 Bedrooms | $242.4K | $270K | +11.4% |
| 4 Bedrooms | $360K | $275K | -23.6% |
| 5+ Bedrooms | $300K | $404.5K | +34.8% |
Summary: Paynesville housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 18.1%, 3 bedroom homes increased by 11.4%, 4 bedroom homes decreased by 23.6%, and 5+ bedroom homes increased by 34.8%.
Median Sold Price Compared To Nearby Cities
| Paynesville | $280K | $265K | -5.4% |
| Paynesville Township | $280K | $265K | -5.4% |
Housing Supply in Paynesville, MN
How many homes are available in Paynesville, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 33 | 27 | -18.2% |
Summary: The Paynesville real estate market had 27 homes for sale in November 2024, a 18.2% 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 | 4 | -20.0% |
| 3 Bedrooms | 18 | 14 | -22.2% |
| 4 Bedrooms | 5 | 3 | -40.0% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Paynesville 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 decreased by 20%, 3 bedroom homes decreased by 22.2%, 4 bedroom homes decreased by 40%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 3 | -66.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Paynesville, 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 Paynesville in November 2024, down by 66.7% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Paynesville, MN
How long does it take to sell a home in Paynesville, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 54 Days | 29 Days | -46.2% |
Summary: Homes in Paynesville had an average of 29 days on market in Nov 2024, down by 46.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Paynesville are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Paynesville; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
