$4,144 Closing Credit*
$349,000
3,120 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Centennial Realty
Is Perham, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Perham was a Seller's Market.
Key Takeaway
Perham is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Perham, MN
How much do homes in Perham, MN cost?
Median Sold Price
$366,225
$161/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$74,500(+25.5%)
Key Takeaway
Homes in Perham have sold for 25.5% more than they did a year ago.
Summary: The median home sold price in Perham was $366,225 in October 2024, up 25.5% from last year, and the median price per square foot was $161.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $232.5K | $69.5K | -70.1% |
| 2 Bedrooms | $289.9K | $317.5K | +9.5% |
| 3 Bedrooms | $269.5K | $316.9K | +17.6% |
| 4 Bedrooms | $347.5K | $435K | +25.2% |
| 5+ Bedrooms | $353.5K | $600K | +69.7% |
Summary: Perham housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 70.1%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 25.2%, and 5+ bedroom homes increased by 69.7%.
Median Sold Price Compared To Nearby Cities
| Perham | $291.7K | $366.2K | +25.5% |
| Perham Township | $293.5K | $366.2K | +24.8% |
Housing Supply in Perham, MN
How many homes are available in Perham, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 50 | 50 | 0.0% |
Summary: The Perham real estate market had 50 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 26 | 26 | 0.0% |
| 4 Bedrooms | 15 | 17 | +13.3% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Perham 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 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 13.3%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 3 | -62.5% |
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 Perham, 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 Perham in October 2024, down by 62.5% 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 Perham, MN
How long does it take to sell a home in Perham, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 40 Days | 186 Days | +363.3% |
Summary: Homes in Perham had an average of 186 days on market in Oct 2024, up by 363.3% 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
Key Takeaway
Most homes in Perham 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 Perham; 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.
