$1,057 Closing Credit*
$89,000
1,252 SqFt
3 Beds
•1 Full Bath
Listing Office: JPW Realty
Is Redwood County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Redwood County was a Seller's Market.
Key Takeaway
Redwood County is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Redwood County, MN
How much do homes in Redwood County, MN cost?
Median Sold Price
$159,700
$93/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$22,250(+16.2%)
Key Takeaway
Homes in Redwood County have sold for 16.2% more than they did a year ago.
Summary: The median home sold price in Redwood County was $159,700 in October 2024, up 16.2% from last year, and the median price per square foot was $93.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $60K | N/A |
| 2 Bedrooms | $93.7K | $102.7K | +9.5% |
| 3 Bedrooms | $150.2K | $154.5K | +2.8% |
| 4 Bedrooms | $170K | $204K | +20.0% |
| 5+ Bedrooms | $193K | $260K | +34.7% |
Summary: Redwood County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 2.8%, 4 bedroom homes increased by 20%, and 5+ bedroom homes increased by 34.7%.
Median Sold Price Compared To Nearby Counties
| Redwood County | $137.4K | $159.7K | +16.2% |
| Renville County | $147K | $169.7K | +15.5% |
| Yellow Medicine County | $142K | $160K | +12.7% |
| Brown County | $185K | $171K | -7.6% |
| Cottonwood County | $164.5K | $140K | -14.9% |
Housing Supply in Redwood County, MN
How many homes are available in Redwood County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 52 | 55 | +5.8% |
Summary: The Redwood County real estate market had 55 homes for sale in October 2024, a 5.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 23 | 25 | +8.7% |
| 4 Bedrooms | 14 | 15 | +7.1% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Redwood County 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 increased by 16.7%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Redwood County, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Redwood County in October 2024, down by 11.1% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Redwood County, MN
How long does it take to sell a home in Redwood County, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 83 Days | 95 Days | +15.0% |
Summary: Homes in Redwood County had an average of 95 days on market in Oct 2024, up by 15% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Redwood County has remained consistent over time.
Summary: During October 2024, 8 homes were sold in Redwood County; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
