$5,166 Closing Credit*
$435,000
936 SqFt
2 Beds
•2 Baths
Listing Office: Kris Lindahl Real Estate
Is Tower, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, Tower was a Seller's Market.
Key Takeaway
Tower 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 Tower, MN
How much do homes in Tower, MN cost?
Median Sold Price
$397,000
$336/sqft
Based on all homes sold in November 2024.
Difference Since Last Month
-$33,000(-7.7%)
Key Takeaway
Homes in Tower have sold for 7.7% less than they did a month ago.
Summary: The median home sold price in Tower was $397,000 in November 2024, down 7.7% from last month, and the median price per square foot was $336.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111.1K | $124K | +11.6% |
| 2 Bedrooms | $430K | $670K | +55.8% |
| 3 Bedrooms | $475K | - | N/A |
| 4 Bedrooms | - | - | N/A |
| 5+ Bedrooms | - | - | N/A |
Summary: Tower housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes increased by 11.6%, 2 bedroom homes increased by 55.8%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Breitung Township | $452.5K | $670K | +48.1% |
| Greenwood Township | $111.1K | $124K | +11.6% |
| Tower | $430K | $397K | -7.7% |
Housing Supply in Tower, MN
How many homes are available in Tower, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 32 | 27 | -15.6% |
Summary: The Tower real estate market had 27 homes for sale in November 2024, a 15.6% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 5 | -16.7% |
| 2 Bedrooms | 13 | 13 | 0.0% |
| 3 Bedrooms | 12 | 8 | -33.3% |
| 4 Bedrooms | 1 | 1 | 0.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Tower housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 16.7%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 9 | 4 | -55.6% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Tower, you may be able to get a good deal. 75% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Tower in November 2024, down by 55.6% month-over-month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for Tower, MN
How long does it take to sell a home in Tower, MN?
Average Sale Time
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 136 Days | 270 Days | +97.6% |
Summary: Homes in Tower had an average of 270 days on market in Nov 2024, up by 97.6% compared to last month.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Tower are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During November 2024, 4 homes were sold in Tower; 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.
