$3,799 Closing Credit*
$319,900
2,184 SqFt
4 Beds
•1 Full Bath
Listing Office: Kerkhoff Auction & Real Estate
Is Redwood Falls, 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 Falls was a Seller's Market.
Key Takeaway
Redwood Falls 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 Falls, MN
How much do homes in Redwood Falls, MN cost?
Median Sold Price
$189,900
$109/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,650(+5.4%)
Key Takeaway
Homes in Redwood Falls have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Redwood Falls was $189,900 in October 2024, up 5.4% from last year, and the median price per square foot was $109.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $66.7K | N/A |
| 2 Bedrooms | $99.1K | $119.8K | +20.9% |
| 3 Bedrooms | $172.5K | $188K | +9.0% |
| 4 Bedrooms | $255K | $260K | +2.0% |
| 5+ Bedrooms | $322.5K | $350K | +8.5% |
Summary: Redwood Falls 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 20.9%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 2%, and 5+ bedroom homes increased by 8.5%.
Median Sold Price Compared To Nearby Cities
| Redwood Falls Township | $177.1K | $189.9K | +7.2% |
| Redwood Falls | $180.2K | $189.9K | +5.4% |
Housing Supply in Redwood Falls, MN
How many homes are available in Redwood Falls, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 28 | 32 | +14.3% |
Summary: The Redwood Falls real estate market had 32 homes for sale in October 2024, a 14.3% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 12 | 15 | +25.0% |
| 4 Bedrooms | 10 | 11 | +10.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Redwood Falls 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 25%, 4 bedroom homes increased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 5 | +150.0% |
Asking Price vs. Sold Price
3 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 Falls, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Redwood Falls in October 2024, up by 150.0% month-over-month. Of the 5 sold homes, 60% were sold under asking, 20% were sold at asking, and 20% were sold over asking.
Days on Market for Redwood Falls, MN
How long does it take to sell a home in Redwood Falls, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 81 Days | 121 Days | +49.4% |
Summary: Homes in Redwood Falls had an average of 121 days on market in Oct 2024, up by 49.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Redwood Falls has remained consistent over time.
Summary: During October 2024, 5 homes were sold in Redwood Falls; 20% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.
