$3,076 Closing Credit*
$259,000
1,588 SqFt
3 Beds
•2 Full Baths
Listing Office: Trelora Realty, Inc
Is Silver Lake, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Silver Lake was a Seller's Market.
Key Takeaway
Silver Lake is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Silver Lake, MN
How much do homes in Silver Lake, MN cost?
Median Sold Price
$235,650
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$39,350(-14.3%)
Key Takeaway
Homes in Silver Lake have sold for 14.3% less than they did a year ago.
Summary: The median home sold price in Silver Lake was $235,650 in October 2024, down 14.3% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $154.5K | N/A |
| 2 Bedrooms | $171K | $198.9K | +16.3% |
| 3 Bedrooms | $273.2K | $232.5K | -14.9% |
| 4 Bedrooms | $299.5K | $240K | -19.9% |
| 5+ Bedrooms | $546K | $560K | +2.6% |
Summary: Silver Lake housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 16.3%, 3 bedroom homes decreased by 14.9%, 4 bedroom homes decreased by 19.9%, and 5+ bedroom homes increased by 2.6%.
Housing Supply in Silver Lake, MN
How many homes are available in Silver Lake, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 10 | 10 | 0.0% |
Summary: The Silver Lake real estate market had 10 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Silver Lake housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 1 homes were sold or pending in Silver Lake in October 2024, the same as the previous month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Silver Lake, MN
How long does it take to sell a home in Silver Lake, MN?
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in Silver Lake; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
