$1,651 Closing Credit*
$139,000
1,196 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is Preston, 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, Preston was a Seller's Market.
Key Takeaway
Preston is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Preston, MN
How much do homes in Preston, MN cost?
Median Sold Price
$172,000
$117/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$9,900(-5.4%)
Key Takeaway
Homes in Preston have sold for 5.4% less than they did a month ago.
Summary: The median home sold price in Preston was $172,000 in November 2024, down 5.4% from last month, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $130K | - | N/A |
| 3 Bedrooms | $480K | $172K | -64.2% |
| 4 Bedrooms | $181.9K | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Preston 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 decreased by 64.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Preston, MN
How many homes are available in Preston, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11 | 9 | -18.2% |
Summary: The Preston real estate market had 9 homes for sale in November 2024, a 18.2% 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 | 4 | 3 | -25.0% |
| 3 Bedrooms | 4 | 3 | -25.0% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Preston 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 decreased by 25%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 3 | 1 | -66.7% |
Asking Price vs. Sold Price
0 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 Preston, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Preston in November 2024, down by 66.7% month-over-month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Preston, MN
How long does it take to sell a home in Preston, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 40 Days | 6 Days | -85.2% |
Summary: Homes in Preston had an average of 6 days on market in Nov 2024, down by 85.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Preston are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1 homes were sold in Preston; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
