$10,000 Closing Credit*
$2,395,000
4,116 SqFt
4 Beds
•1 Full Bath
Listing Office: Coldwell Banker Realty
Is Tonka Bay, 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, Tonka Bay was a Seller's Market.
Key Takeaway
Tonka Bay is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Tonka Bay, MN
How much do homes in Tonka Bay, MN cost?
Median Sold Price
$1,526,037
$383/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$107,161(+7.6%)
Key Takeaway
Homes in Tonka Bay have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Tonka Bay was $1,526,037 in October 2024, up 7.6% from last year, and the median price per square foot was $383.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.1M | $545K | -53.0% |
| 3 Bedrooms | $1.6M | $640K | -62.2% |
| 4 Bedrooms | $837K | $2.1M | +159.8% |
| 5+ Bedrooms | $1.3M | $1.8M | +29.7% |
Summary: Tonka Bay 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 decreased by 53%, 3 bedroom homes decreased by 62.2%, 4 bedroom homes increased by 159.8%, and 5+ bedroom homes increased by 29.7%.
Median Sold Price Compared To Nearby Cities
| Tonka Bay | $1.4M | $1.5M | +7.6% |
| Shorewood | $775K | $657.5K | -15.2% |
Housing Supply in Tonka Bay, MN
How many homes are available in Tonka Bay, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 8 | -11.1% |
Summary: The Tonka Bay real estate market had 8 homes for sale in October 2024, a 11.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 2 | 1 | -50.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Tonka Bay 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 50%, 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 Tonka Bay, 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 Tonka Bay 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 Tonka Bay, MN
How long does it take to sell a home in Tonka Bay, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 0 Days | 18 Days | +3500.0% |
Summary: Homes in Tonka Bay had an average of 18 days on market in Oct 2024, up by 3500% compared to last year.
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 Tonka Bay are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 1 homes were sold in Tonka Bay; 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.
