$2,136 Closing Credit*
$179,900
960 SqFt
3 Beds
•1 Full Bath
Dee Furo, Listing Office: Messina & Associates Real Estate
Is Silver Bay, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Silver Bay was a Buyer's Market.
Key Takeaway
Silver Bay is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Bay, MN
How much do homes in Silver Bay, MN cost?
Median Sold Price
$250,000
$128/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$88,050(+54.4%)
Key Takeaway
Homes in Silver Bay have sold for 54.4% more than they did a month ago.
Summary: The median home sold price in Silver Bay was $250,000 in November 2024, up 54.4% from last month, and the median price per square foot was $128.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $160K | N/A |
| 3 Bedrooms | $161.9K | $259.5K | +60.2% |
| 4 Bedrooms | - | $260K | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Silver Bay housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 60.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Silver Bay, MN
How many homes are available in Silver Bay, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 30 | 28 | -6.7% |
Summary: The Silver Bay real estate market had 28 homes for sale in November 2024, a 6.7% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 13 | 8 | -38.5% |
| 4 Bedrooms | 3 | 5 | +66.7% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Silver Bay 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 increased by 8.3%, 3 bedroom homes decreased by 38.5%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 4 | 5 | +25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Bay, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Silver Bay in November 2024, up by 25.0% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.
Days on Market for Silver Bay, MN
How long does it take to sell a home in Silver Bay, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 45 Days | 113 Days | +147.4% |
Summary: Homes in Silver Bay had an average of 113 days on market in Nov 2024, up by 147.4% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Silver Bay are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 5 homes were sold in Silver Bay; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 80% of homes were sold over 90 days.
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