$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 Township, 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 Township has remained a Seller's Market.
Key Takeaway
Wells Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wells Township, MN
How much do homes in Wells Township, MN cost?
Median Sold Price
$255,000
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$71,800(+39.2%)
Key Takeaway
Homes in Wells Township have sold for 39.2% more than they did a year ago.
Summary: The median home sold price in Wells Township was $255,000 in October 2024, up 39.2% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $105K | $350K | +233.3% |
| 2 Bedrooms | $125K | $132K | +5.6% |
| 3 Bedrooms | $235.5K | $225K | -4.5% |
| 4 Bedrooms | $183.2K | $365.5K | +99.5% |
| 5+ Bedrooms | $300K | $282.9K | -5.7% |
Summary: Wells Township housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 233.3%, 2 bedroom homes increased by 5.6%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 99.5%, and 5+ bedroom homes decreased by 5.7%.
Median Sold Price Compared To Nearby Cities
| Wells Township | $183.2K | $255K | +39.2% |
| Faribault | $266.8K | $299.9K | +12.4% |
Housing Supply in Wells Township, MN
How many homes are available in Wells Township, MN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 26 | -10.3% |
Summary: The Wells Township real estate market had 26 homes for sale in October 2024, a 10.3% 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 | 2 | 2 | 0.0% |
| 3 Bedrooms | 19 | 16 | -15.8% |
| 4 Bedrooms | 5 | 4 | -20.0% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Wells Township 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 15.8%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 6 | 8 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Wells Township, expect to pay close to the asking price. 50% of homes here sold near the asking price last month.
Summary: A total of 8 homes were sold or pending in Wells Township in October 2024, up by 33.3% month-over-month. Of the 8 sold homes, 38% were sold under asking, 50% were sold at asking, and 13% were sold over asking.
Days on Market for Wells Township, MN
How long does it take to sell a home in Wells Township, MN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 37 Days | 73 Days | +97.6% |
Summary: Homes in Wells Township had an average of 73 days on market in Oct 2024, up by 97.6% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Wells Township has remained consistent over time.
Summary: During October 2024, 8 homes were sold in Wells Township; 13% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 38% of homes were sold over 90 days.
