$239,000
Land
Listing Office: Weichert, REALTORS- Heartland
Is Rice County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Rice County has remained a Seller's Market.
Key Takeaway
Rice County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Rice County, MN
How much do homes in Rice County, MN cost?
Median Sold Price
$335,000
$170/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,714(+3.0%)
Key Takeaway
Homes in Rice County have sold for 3% more than they did a year ago.
Summary: The median home sold price in Rice County was $335,000 in November 2024, up 3% from last year, and the median price per square foot was $170.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $160K | -23.8% |
| 2 Bedrooms | $237.2K | $241K | +1.6% |
| 3 Bedrooms | $306.5K | $299.9K | -2.1% |
| 4 Bedrooms | $376K | $395K | +5.0% |
| 5+ Bedrooms | $435K | $454.8K | +4.6% |
Summary: Rice County housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.8%, 2 bedroom homes increased by 1.6%, 3 bedroom homes decreased by 2.1%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 4.6%.
Median Sold Price Compared To Nearby Counties
| Steele County | $263.9K | $280K | +6.1% |
| Rice County | $325.2K | $335K | +3.0% |
| Scott County | $408.7K | $414.1K | +1.3% |
| Waseca County | $237.5K | $234.5K | -1.3% |
| Le Sueur County | $294.2K | $284.9K | -3.2% |
Housing Supply in Rice County, MN
How many homes are available in Rice County, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 268 | 247 | -7.8% |
Summary: The Rice County real estate market had 247 homes for sale in November 2024, a 7.8% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 1 | -75.0% |
| 2 Bedrooms | 50 | 48 | -4.0% |
| 3 Bedrooms | 104 | 100 | -3.8% |
| 4 Bedrooms | 75 | 63 | -16.0% |
| 5+ Bedrooms | 35 | 35 | 0.0% |
Summary: The Rice County housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 75%, 2 bedroom homes decreased by 4%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 68 | 60 | -11.8% |
Asking Price vs. Sold Price
36 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rice County, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 60 homes were sold or pending in Rice County in November 2024, down by 11.8% month-over-month. Of the 60 sold homes, 60% were sold under asking, 22% were sold at asking, and 18% were sold over asking.
Days on Market for Rice County, MN
How long does it take to sell a home in Rice County, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 33 Days | 36 Days | +8.5% |
Summary: Homes in Rice County had an average of 36 days on market in Nov 2024, up by 8.5% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Rice County are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 60 homes were sold in Rice County; 57% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
