$2,826 Closing Credit*
$238,000
1,080 SqFt
3 Beds
•1 Full Bath
Listing Office: RE/MAX Results
Is Princeton, 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, Princeton has remained a Seller's Market.
Key Takeaway
Princeton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Princeton, MN
How much do homes in Princeton, MN cost?
Median Sold Price
$345,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$7,550(+2.2%)
Key Takeaway
Homes in Princeton have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Princeton was $345,000 in October 2024, up 2.2% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210.6K | $214.9K | +2.0% |
| 2 Bedrooms | $301K | $270K | -10.3% |
| 3 Bedrooms | $330K | $342.4K | +3.8% |
| 4 Bedrooms | $348K | $395K | +13.5% |
| 5+ Bedrooms | $419.5K | $464.4K | +10.7% |
Summary: Princeton housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2%, 2 bedroom homes decreased by 10.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 10.7%.
Median Sold Price Compared To Nearby Cities
| Baldwin Township | $374.9K | $429K | +14.4% |
| Princeton | $337.4K | $345K | +2.2% |
| Princeton Township | $339.9K | $345K | +1.5% |
Housing Supply in Princeton, MN
How many homes are available in Princeton, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 76 | 74 | -2.6% |
Summary: The Princeton real estate market had 74 homes for sale in October 2024, a 2.6% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 16 | 15 | -6.3% |
| 3 Bedrooms | 33 | 30 | -9.1% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Princeton 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 decreased by 6.3%, 3 bedroom homes decreased by 9.1%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 18 | +5.9% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Princeton, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Princeton in October 2024, up by 5.9% month-over-month. Of the 18 sold homes, 28% were sold under asking, 28% were sold at asking, and 44% were sold over asking.
Days on Market for Princeton, MN
How long does it take to sell a home in Princeton, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 34 Days | 42 Days | +22.9% |
Summary: Homes in Princeton had an average of 42 days on market in Oct 2024, up by 22.9% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Princeton are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 18 homes were sold in Princeton; 50% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
