Is Rice County, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Rice County is a 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

# BEDSOct 2023Oct 2024CHANGE
1 $210K$156.5K
-25.5%
2 $234.2K$243.5K
+4.0%
3 $305.3K$300K
-1.7%
4 $379K$395K
+4.2%
5+ $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
+6.3%
Rice County
+3.2%
Scott County
+2.2%
Le Sueur County
-0.3%
Waseca County
-3.5%

Housing Supply in Rice County, MN

How many homes are available in Rice County, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
251294+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

# BEDSSep 2024Oct 2024CHANGE
1 45
+25.0%
2 4156
+36.6%
3 94112
+19.1%
4 7682
+7.9%
5+ 3639
+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 2024Oct 2024CHANGE
4964+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

Asking vs Sold - buyer

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 2023Oct 2024CHANGE
27 Days39 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

Breakdown of Home Sale Times

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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Rice County, MN

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