$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 November 2023
Since last year, Tonka Bay has remained a Buyer'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
$1,513,537
$370/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$157,161(+11.6%)
Key Takeaway
Homes in Tonka Bay have sold for 11.6% more than they did a year ago.
Summary: The median home sold price in Tonka Bay was $1,513,537 in November 2024, up 11.6% from last year, and the median price per square foot was $370.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $1.1M | $545K | -53.0% |
| 3 Bedrooms | $1.3M | $591.9K | -57.3% |
| 4 Bedrooms | $837K | $2.1M | +159.8% |
| 5+ Bedrooms | $1.3M | $1.8M | +29.7% |
Summary: Tonka Bay 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 decreased by 53%, 3 bedroom homes decreased by 57.3%, 4 bedroom homes increased by 159.8%, and 5+ bedroom homes increased by 29.7%.
Median Sold Price Compared To Nearby Cities
| Tonka Bay | $1.3M | $1.5M | +11.6% |
| Shorewood | $767.5K | $650K | -15.3% |
Housing Supply in Tonka Bay, MN
How many homes are available in Tonka Bay, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Summary: The Tonka Bay real estate market had 8 homes for sale in November 2024, the same as October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 1 | 1 | 0.0% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Tonka Bay 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 remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 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 Tonka Bay, you could pay more than the asking price. 100% of homes here sold above asking price last month.
Summary: A total of 1 homes were sold or pending in Tonka Bay in November 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 102 Days | +200.0% |
Summary: Homes in Tonka Bay had an average of 102 days on market in Nov 2024, up by 200% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Most homes in Tonka Bay are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 1 homes were sold in Tonka Bay; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.
