$2,849 Closing Credit*
$239,900
3,440 SqFt
3 Beds
•1 Full Bath, 2 Partial
Listing Office: Realty ONE Group Black Diamond
Is Wells, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Wells has remained a Seller's Market.
Key Takeaway
Wells is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wells, MN
How much do homes in Wells, MN cost?
Median Sold Price
$167,100
$92/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$44,100(+35.9%)
Key Takeaway
Homes in Wells have sold for 35.9% more than they did a year ago.
Summary: The median home sold price in Wells was $167,100 in October 2024, up 35.9% from last year, and the median price per square foot was $92.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | - | N/A |
| 2 Bedrooms | $92.5K | $125K | +35.1% |
| 3 Bedrooms | $117.2K | $170K | +45.1% |
| 4 Bedrooms | $172.7K | $172.5K | -0.1% |
| 5+ Bedrooms | $300K | $223.5K | -25.5% |
Summary: Wells 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 35.1%, 3 bedroom homes increased by 45.1%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 25.5%.
Housing Supply in Wells, MN
How many homes are available in Wells, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 13 | -23.5% |
Summary: The Wells real estate market had 13 homes for sale in October 2024, a 23.5% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 12 | 8 | -33.3% |
| 4 Bedrooms | 3 | 3 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Wells 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 33.3%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 3 | -40.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wells, you may be able to get a good deal. 33.3% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Wells in October 2024, down by 40.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 33% were sold at asking, and 33% were sold over asking.
Days on Market for Wells, MN
How long does it take to sell a home in Wells, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 41 Days | 31 Days | -23.6% |
Summary: Homes in Wells had an average of 31 days on market in Oct 2024, down by 23.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wells has remained consistent over time.
Summary: During October 2024, 3 homes were sold in Wells; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
