$6,233 Closing Credit*
$524,900
2,850 SqFt
Listing Office: Algo Realty Inc
Is Phillips, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Phillips was a Buyer's Market.
Key Takeaway
Phillips is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Phillips, MN
How much do homes in Phillips, MN cost?
Median Sold Price
$243,750
$156/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$33,750(+16.1%)
Key Takeaway
Homes in Phillips have sold for 16.1% more than they did a month ago.
Summary: The median home sold price in Phillips was $243,750 in November 2024, up 16.1% from last month, and the median price per square foot was $156.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | - | N/A |
| 2 Bedrooms | $210K | - | N/A |
| 3 Bedrooms | $218K | $229.9K | +5.5% |
| 4 Bedrooms | - | $258.7K | N/A |
| 5+ Bedrooms | - | $380K | N/A |
Summary: Phillips housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 5.5%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| Phillips West | $180K | $285K | +58.3% |
| Midtown Phillips | $210K | $252.5K | +20.2% |
| Phillips | $210K | $243.7K | +16.1% |
| Ventura Village | $218K | $181.2K | -16.9% |
Housing Supply in Phillips, MN
How many homes are available in Phillips, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 37 | 43 | +16.2% |
Summary: The Phillips real estate market had 43 homes for sale in November 2024, a 16.2% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 8 | 9 | +12.5% |
| 3 Bedrooms | 13 | 13 | 0.0% |
| 4 Bedrooms | 8 | 11 | +37.5% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Phillips housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 12.5%, 3 bedroom homes remained the same, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
4 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Phillips, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Phillips in November 2024, up by 166.7% month-over-month. Of the 8 sold homes, 13% were sold under asking, 50% were sold at asking, and 38% were sold over asking.
Days on Market for Phillips, MN
How long does it take to sell a home in Phillips, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 105 Days | 32 Days | -69.2% |
Summary: Homes in Phillips had an average of 32 days on market in Nov 2024, down by 69.2% compared to last month.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Phillips are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 8 homes were sold in Phillips; 75% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
