$6,234 Closing Credit*
$525,000
2,676 SqFt
5 Beds
•3 Full Baths, 1 Partial
Listing Office: JPW Realty
Is Scandia, 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, Scandia has remained a Seller's Market.
Key Takeaway
Scandia is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Scandia, MN
How much do homes in Scandia, MN cost?
Median Sold Price
$510,000
$215/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$66,400(-11.5%)
Key Takeaway
Homes in Scandia have sold for 11.5% less than they did a year ago.
Summary: The median home sold price in Scandia was $510,000 in November 2024, down 11.5% from last year, and the median price per square foot was $215.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $510K | $385K | -24.5% |
| 3 Bedrooms | $565.5K | $462K | -18.3% |
| 4 Bedrooms | $585.9K | $600K | +2.4% |
| 5+ Bedrooms | $620K | $602.1K | -2.9% |
Summary: Scandia housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 24.5%, 3 bedroom homes decreased by 18.3%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Forest Lake | $380K | $390K | +2.6% |
| Scandia | $576.4K | $510K | -11.5% |
Housing Supply in Scandia, MN
How many homes are available in Scandia, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 21 | 0.0% |
Summary: The Scandia real estate market had 21 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 6 | -14.3% |
| 4 Bedrooms | 8 | 10 | +25.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Scandia housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 14.3%, 4 bedroom homes increased by 25%, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2 | 6 | +200.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Scandia, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Scandia in November 2024, up by 200.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for Scandia, MN
How long does it take to sell a home in Scandia, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 49 Days | 42 Days | -15.1% |
Summary: Homes in Scandia had an average of 42 days on market in Nov 2024, down by 15.1% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Scandia are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 6 homes were sold in Scandia; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
