$1,364 Closing Credit*
$114,900
2,142 SqFt
4 Beds
•1 Full Bath, 1 Partial
Listing Office: Elcor Realty of Rochester Inc.
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 Buyer's Market.
Key Takeaway
Preston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Preston, MN
How much do homes in Preston, MN cost?
Median Sold Price
$181,900
$133/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$77,100(-29.8%)
Key Takeaway
Homes in Preston have sold for 29.8% less than they did a month ago.
Summary: The median home sold price in Preston was $181,900 in October 2024, down 29.8% from last month, and the median price per square foot was $133.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $130K | N/A |
| 3 Bedrooms | - | $480K | N/A |
| 4 Bedrooms | $259K | $181.9K | -29.8% |
| 5+ Bedrooms | - | - | N/A |
Summary: Preston housing prices by bedroom type for October 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 did not change, 4 bedroom homes decreased by 29.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Preston | $259K | $181.9K | -29.8% |
| Preston Township | $259K | $181.9K | -29.8% |
Housing Supply in Preston, MN
How many homes are available in Preston, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 12 | 0.0% |
Summary: The Preston real estate market had 12 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Preston 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 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 may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Preston in October 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 77 Days | 40 Days | -47.2% |
Summary: Homes in Preston had an average of 40 days on market in Oct 2024, down by 47.2% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Preston has remained consistent over time.
Summary: During October 2024, 3 homes were sold in Preston; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
