$9,073 Closing Credit*
$764,000
4,308 SqFt
5 Beds
•2 Full Baths
Listing Office: D.R. Horton, Inc.
Is Spring Lake Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Spring Lake Township was a Seller's Market.
Key Takeaway
Spring 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 Spring Lake Township, MN
How much do homes in Spring Lake Township, MN cost?
Median Sold Price
$768,002
$241/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$48,002(+6.7%)
Key Takeaway
Homes in Spring Lake Township have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Spring Lake Township was $768,002 in November 2024, up 6.7% from last year, and the median price per square foot was $241.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $2.4M | - | N/A |
| 2 Bedrooms | $160K | $655K | +309.4% |
| 3 Bedrooms | $609K | $723.5K | +18.8% |
| 4 Bedrooms | $662.5K | $830K | +25.3% |
| 5+ Bedrooms | $780.5K | $776K | -0.6% |
Summary: Spring Lake Township housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 309.4%, 3 bedroom homes increased by 18.8%, 4 bedroom homes increased by 25.3%, and 5+ bedroom homes decreased by 0.6%.
Median Sold Price Compared To Nearby Cities
| Cedar Lake Township | $667.1K | $830K | +24.4% |
| Spring Lake Township | $720K | $768K | +6.7% |
| Prior Lake | $485.1K | $513.8K | +5.9% |
| Shakopee | $380K | $395.7K | +4.1% |
| Credit River Township | $835K | $830K | -0.6% |
Housing Supply in Spring Lake Township, MN
How many homes are available in Spring Lake Township, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 22 | 18 | -18.2% |
Summary: The Spring Lake Township real estate market had 18 homes for sale in November 2024, a 18.2% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 5 | 2 | -60.0% |
| 4 Bedrooms | 10 | 9 | -10.0% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Spring Lake Township housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 60%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 10 | 3 | -70.0% |
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 Spring Lake Township, 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 Spring Lake Township in November 2024, down by 70.0% 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 Spring Lake Township, MN
How long does it take to sell a home in Spring Lake Township, MN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 27 Days | 38 Days | +39.3% |
Summary: Homes in Spring Lake Township had an average of 38 days on market in Nov 2024, up by 39.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Spring Lake Township are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 3 homes were sold in Spring Lake Township; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
