$140,000
Land
Listing Office: RE/MAX TOTAL REALTY
Is Silver Lake Township, 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 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
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $154.5K | N/A |
| 2 Bedrooms | $171K | $198.9K | +16.3% |
| 3 Bedrooms | $280K | $257.5K | -8.0% |
| 4 Bedrooms | $219K | $240K | +9.6% |
| 5+ Bedrooms | $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 | $172.7K | $182.9K | +5.9% |
| Silver Lake Township | $275K | $240K | -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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 13 | 12 | -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
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 10 | 9 | -10.0% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 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 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were 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 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 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 16 Days | 226 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
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.
