$1,651 Closing Credit*
$139,000
864 SqFt
2 Beds
•1 Full Bath
Jon Chapek, Listing Office: Odyssey Real Estate Group
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 Neutral Market.
Key Takeaway
Silver Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Silver Bay, MN
How much do homes in Silver Bay, MN cost?
Median Sold Price
$161,950
$185/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
+$11,950(+8.0%)
Key Takeaway
Homes in Silver Bay have sold for 8% more than they did a month ago.
Summary: The median home sold price in Silver Bay was $161,950 in October 2024, up 8% from last month, and the median price per square foot was $185.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $150K | - | N/A |
| 3 Bedrooms | $161.5K | $161.9K | 0.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Silver Bay housing prices by bedroom type for October 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 0.3%, 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 34 | +3.0% |
Summary: The Silver Bay real estate market had 34 homes for sale in October 2024, a 3.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 10 | 13 | +30.0% |
| 3 Bedrooms | 19 | 15 | -21.1% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Silver Bay housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 30%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
3 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. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Silver Bay in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% 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
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 32 Days | 45 Days | +39.5% |
Summary: Homes in Silver Bay had an average of 45 days on market in Oct 2024, up by 39.5% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Silver Bay are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in Silver Bay; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
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