$5,046 Closing Credit*
$424,900
1,200 SqFt
2 Beds
•2 Full Baths
Listing Office: Re/Max Results
Is Pine Island, 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, Pine Island was a Seller's Market.
Key Takeaway
Pine Island is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Pine Island, MN
How much do homes in Pine Island, MN cost?
Median Sold Price
$379,900
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$34,650(+10.0%)
Key Takeaway
Homes in Pine Island have sold for 10% more than they did a year ago.
Summary: The median home sold price in Pine Island was $379,900 in November 2024, up 10% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | - | N/A |
| 2 Bedrooms | $226.2K | $319.9K | +41.4% |
| 3 Bedrooms | $360K | $299.9K | -16.7% |
| 4 Bedrooms | $420K | $415.9K | -1.0% |
| 5+ Bedrooms | $625K | $503.5K | -19.4% |
Summary: Pine Island 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 41.4%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 1%, and 5+ bedroom homes decreased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Pine Island | $345.2K | $379.9K | +10.0% |
| Pine Island Township | $337.5K | $367.4K | +8.9% |
Housing Supply in Pine Island, MN
How many homes are available in Pine Island, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 29 | 27 | -6.9% |
Summary: The Pine Island real estate market had 27 homes for sale in November 2024, a 6.9% 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 | 8 | 10 | +25.0% |
| 3 Bedrooms | 9 | 6 | -33.3% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Pine Island 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 increased by 25%, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 2 | -71.4% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Pine Island, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Pine Island in November 2024, down by 71.4% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Pine Island, MN
How long does it take to sell a home in Pine Island, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 104 Days | +254.5% |
Summary: Homes in Pine Island had an average of 104 days on market in Nov 2024, up by 254.5% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Pine Island are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 2 homes were sold in Pine Island; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
