$5,047 Closing Credit*
$425,000
1,621 SqFt
2 Beds
•1 Full Bath
Listing Office: Elcor Realty of Rochester Inc.
Is Pine Island, 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, Pine Island was a Seller's Market.
Key Takeaway
Pine Island is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Pine Island, MN
How much do homes in Pine Island, MN cost?
Median Sold Price
$389,900
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$34,900(+9.8%)
Key Takeaway
Homes in Pine Island have sold for 9.8% more than they did a year ago.
Summary: The median home sold price in Pine Island was $389,900 in October 2024, up 9.8% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | - | N/A |
| 2 Bedrooms | $232.5K | $319.9K | +37.6% |
| 3 Bedrooms | $382K | $299.9K | -21.5% |
| 4 Bedrooms | $409.9K | $422K | +2.9% |
| 5+ Bedrooms | $625K | $503.5K | -19.4% |
Summary: Pine Island 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 increased by 37.6%, 3 bedroom homes decreased by 21.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 19.4%.
Median Sold Price Compared To Nearby Cities
| Pine Island | $355K | $389.9K | +9.8% |
| Pine Island Township | $350.5K | $379.9K | +8.4% |
| Oronoco Township | $540K | $513.7K | -4.9% |
Housing Supply in Pine Island, MN
How many homes are available in Pine Island, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 25 | 31 | +24.0% |
Summary: The Pine Island real estate market had 31 homes for sale in October 2024, a 24.0% 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 | 7 | +16.7% |
| 3 Bedrooms | 6 | 10 | +66.7% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Pine Island 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 increased by 16.7%, 3 bedroom homes increased by 66.7%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Pine Island, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Pine Island in October 2024, up by 25.0% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 64 Days | 33 Days | -47.9% |
Summary: Homes in Pine Island had an average of 33 days on market in Oct 2024, down by 47.9% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Pine Island has remained consistent over time.
Summary: During October 2024, 5 homes were sold in Pine Island; 40% of homes were sold within 30 days, 60% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
