$5,047 Closing Credit*
$425,000
2,356 SqFt
5 Beds
•1 Full Bath, 1 Partial
Listing Office: Edina Realty
Is Paynesville Township, 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, Paynesville Township has remained a Seller's Market.
Key Takeaway
Paynesville Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Paynesville Township, MN
How much do homes in Paynesville Township, MN cost?
Median Sold Price
$264,950
$162/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$15,050(-5.4%)
Key Takeaway
Homes in Paynesville Township have sold for 5.4% less than they did a year ago.
Summary: The median home sold price in Paynesville Township was $264,950 in October 2024, down 5.4% from last year, and the median price per square foot was $162.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $275K | $205K | -25.5% |
| 3 Bedrooms | $260K | $267.5K | +2.9% |
| 4 Bedrooms | $360K | $275K | -23.6% |
| 5+ Bedrooms | $299K | $452.5K | +51.3% |
Summary: Paynesville Township 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 decreased by 25.5%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 23.6%, and 5+ bedroom homes increased by 51.3%.
Median Sold Price Compared To Nearby Cities
| Munson Township | $345K | $454.5K | +31.7% |
| Eden Lake Township | $307.5K | $365K | +18.7% |
| Paynesville Township | $280K | $264.9K | -5.4% |
| Paynesville | $280K | $264.9K | -5.4% |
Housing Supply in Paynesville Township, MN
How many homes are available in Paynesville Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 31 | 34 | +9.7% |
Summary: The Paynesville Township real estate market had 34 homes for sale in October 2024, a 9.7% 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 | 6 | 5 | -16.7% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Paynesville Township 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 decreased by 16.7%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 9 | +50.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Paynesville Township, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Paynesville Township in October 2024, up by 50.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 11% were sold at asking, and 33% were sold over asking.
Days on Market for Paynesville Township, MN
How long does it take to sell a home in Paynesville Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 48 Days | 40 Days | -17.1% |
Summary: Homes in Paynesville Township had an average of 40 days on market in Oct 2024, down by 17.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Paynesville Township are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Paynesville Township; 56% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
