Is Silver Lake Township, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Silver Lake Township is a neutral's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Silver Lake Township was a Seller's Market.

Key Takeaway

Silver Lake Township is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Silver Lake Township, MN

How much do homes in Silver Lake Township, MN cost?

Median Sold Price

$240,000

$143/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$35,000(-12.7%)

Key Takeaway

Homes in Silver Lake Township have sold for 12.7% less than they did a year ago.

Summary: The median home sold price in Silver Lake Township was $240,000 in October 2024, down 12.7% from last year, and the median price per square foot was $143.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 -$154.5K
N/A
2 $171K$198.9K
+16.3%
3 $280K$257.5K
-8.0%
4 $219K$240K
+9.6%
5+ $546K$560K
+2.6%

Summary: Silver Lake Township 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 8%, 4 bedroom homes increased by 9.6%, and 5+ bedroom homes increased by 2.6%.

Median Sold Price Compared To Nearby Cities

Fairmont Township
+5.9%
Silver Lake Township
-12.7%

Housing Supply in Silver Lake Township, MN

How many homes are available in Silver Lake Township, MN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
1312-7.7%

Summary: The Silver Lake Township real estate market had 12 homes for sale in October 2024, a 7.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 11
0.0%
3 109
-10.0%
4 22
0.0%
5+ 00
0.0%

Summary: The Silver Lake Township 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 decreased by 10%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
220.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Silver Lake Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in Silver Lake Township in October 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for Silver Lake Township, MN

How long does it take to sell a home in Silver Lake Township, MN?

Average Sale Time

Oct 2023Oct 2024CHANGE
16 Days226 Days+1286.7%

Summary: Homes in Silver Lake Township had an average of 226 days on market in Oct 2024, up by 1286.7% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Silver Lake Township are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 2 homes were sold in Silver Lake Township; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 4 Days Ago

Newest Listings in Silver Lake Township, MN

Nearby Markets to Silver Lake Township, MN