$3,859 Closing Credit*
$325,000
1,646 SqFt
3 Beds
•1 Full Bath
Listing Office: Featherstone Real Estate, LLC
Is Red Wing, 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, Red Wing has remained a Seller's Market.
Key Takeaway
Red Wing is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Red Wing, MN
How much do homes in Red Wing, MN cost?
Median Sold Price
$282,500
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$32,500(+13.0%)
Key Takeaway
Homes in Red Wing have sold for 13% more than they did a year ago.
Summary: The median home sold price in Red Wing was $282,500 in October 2024, up 13% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $158.5K | $168K | +6.0% |
| 2 Bedrooms | $208K | $265K | +27.4% |
| 3 Bedrooms | $227K | $269.5K | +18.7% |
| 4 Bedrooms | $327.2K | $400K | +22.2% |
| 5+ Bedrooms | $415K | $365K | -12.0% |
Summary: Red Wing housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 27.4%, 3 bedroom homes increased by 18.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 12%.
Median Sold Price Compared To Nearby Cities
| Red Wing | $250K | $282.5K | +13.0% |
| Hager City | $327.5K | $310K | -5.3% |
Housing Supply in Red Wing, MN
How many homes are available in Red Wing, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 64 | 74 | +15.6% |
Summary: The Red Wing real estate market had 74 homes for sale in October 2024, a 15.6% 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 | 21 | 19 | -9.5% |
| 3 Bedrooms | 29 | 37 | +27.6% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Red Wing 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 9.5%, 3 bedroom homes increased by 27.6%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 16 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Red Wing, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Red Wing in October 2024, the same as the previous month. Of the 16 sold homes, 56% were sold under asking, 13% were sold at asking, and 31% were sold over asking.
Days on Market for Red Wing, MN
How long does it take to sell a home in Red Wing, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 29 Days | 54 Days | +87.5% |
Summary: Homes in Red Wing had an average of 54 days on market in Oct 2024, up by 87.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Red Wing are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 16 homes were sold in Red Wing; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
