$5,641 Closing Credit*
$475,000
3,692 SqFt
Listing Office: HomeSmart Sapphire Realty
Is Powderhorn, 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, Powderhorn has remained a Seller's Market.
Key Takeaway
Powderhorn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Powderhorn, MN
How much do homes in Powderhorn, MN cost?
Median Sold Price
$295,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,000(+3.5%)
Key Takeaway
Homes in Powderhorn have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Powderhorn was $295,000 in October 2024, up 3.5% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $123.6K | $128K | +3.6% |
| 2 Bedrooms | $225K | $231.5K | +2.9% |
| 3 Bedrooms | $313K | $320K | +2.2% |
| 4 Bedrooms | $360K | $365.5K | +1.5% |
| 5+ Bedrooms | $360.2K | $397.5K | +10.3% |
Summary: Powderhorn housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 2.9%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 1.5%, and 5+ bedroom homes increased by 10.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Powderhorn | $285K | $295K | +3.5% |
| Powderhorn Park | $296K | $290K | -2.0% |
Housing Supply in Powderhorn, MN
How many homes are available in Powderhorn, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 126 | 140 | +11.1% |
Summary: The Powderhorn real estate market had 140 homes for sale in October 2024, a 11.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 25 | 29 | +16.0% |
| 2 Bedrooms | 31 | 33 | +6.5% |
| 3 Bedrooms | 44 | 48 | +9.1% |
| 4 Bedrooms | 19 | 23 | +21.1% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Powderhorn housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16%, 2 bedroom homes increased by 6.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 21.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 22 | 31 | +40.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Powderhorn, expect to pay close to the asking price. 41.9% of homes here sold near the asking price last month.
Summary: A total of 31 homes were sold or pending in Powderhorn in October 2024, up by 40.9% month-over-month. Of the 31 sold homes, 29% were sold under asking, 42% were sold at asking, and 29% were sold over asking.
Days on Market for Powderhorn, MN
How long does it take to sell a home in Powderhorn, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 19 Days | 32 Days | +67.4% |
Summary: Homes in Powderhorn had an average of 32 days on market in Oct 2024, up by 67.4% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Powderhorn are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 31 homes were sold in Powderhorn; 68% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
