$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 Last Month
Last month, Silver Lake was a Buyer's Market.
Key Takeaway
Silver Lake is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Silver Lake, MN
How much do homes in Silver Lake, MN cost?
Median Sold Price
$273,000
$139/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
+$58,500(+27.3%)
Key Takeaway
Homes in Silver Lake have sold for 27.3% more than they did a month ago.
Summary: The median home sold price in Silver Lake was $273,000 in November 2024, up 27.3% from last month, and the median price per square foot was $139.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $214.5K | $273K | +27.3% |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Silver Lake 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 27.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Housing Supply in Silver Lake, MN
How many homes are available in Silver Lake, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Summary: The Silver Lake real estate market had 11 homes for sale in November 2024, a 10.0% increase 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 7 | 0.0% |
| 4 Bedrooms | 2 | 3 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Silver Lake 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 remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 3 | +200.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Silver Lake, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Silver Lake in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% were sold over asking.
Days on Market for Silver Lake, MN
How long does it take to sell a home in Silver Lake, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 16 Days | 57 Days | +256.3% |
Summary: Homes in Silver Lake had an average of 57 days on market in Nov 2024, up by 256.3% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Silver Lake are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Silver Lake; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
