$3,147 Closing Credit*
$265,000
1,729 SqFt
3 Beds
•1 Full Bath
Listing Office: Edina Realty, Inc.
Is Rice County, 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, 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
$171/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$10,375(+3.2%)
Key Takeaway
Homes in Rice County have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Rice County was $335,000 in October 2024, up 3.2% from last year, and the median price per square foot was $171.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $210K | $156.5K | -25.5% |
| 2 Bedrooms | $234.2K | $243.5K | +4.0% |
| 3 Bedrooms | $305.3K | $300K | -1.7% |
| 4 Bedrooms | $379K | $395K | +4.2% |
| 5+ Bedrooms | $435K | $451K | +3.7% |
Summary: Rice County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 25.5%, 2 bedroom homes increased by 4%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Counties
| Steele County | $263.4K | $280K | +6.3% |
| Rice County | $324.6K | $335K | +3.2% |
| Scott County | $404.8K | $413.7K | +2.2% |
| Le Sueur County | $290K | $289K | -0.3% |
| Waseca County | $238.2K | $230K | -3.5% |
Housing Supply in Rice County, MN
How many homes are available in Rice County, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 251 | 294 | +17.1% |
Summary: The Rice County real estate market had 294 homes for sale in October 2024, a 17.1% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 41 | 56 | +36.6% |
| 3 Bedrooms | 94 | 112 | +19.1% |
| 4 Bedrooms | 76 | 82 | +7.9% |
| 5+ Bedrooms | 36 | 39 | +8.3% |
Summary: The Rice County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 36.6%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 49 | 64 | +30.6% |
Asking Price vs. Sold Price
24 Homes Were Sold
Under Asking
17 Homes Were Sold
At Asking
23 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. 37.5% of homes here sold below asking price last month.
Summary: A total of 64 homes were sold or pending in Rice County in October 2024, up by 30.6% month-over-month. Of the 64 sold homes, 38% were sold under asking, 27% were sold at asking, and 36% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 39 Days | +42.0% |
Summary: Homes in Rice County had an average of 39 days on market in Oct 2024, up by 42% compared to last year.
Breakdown of Home Sale Times
36 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
7 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 October 2024, 64 homes were sold in Rice County; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
