Is Albany, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Albany has remained a Buyer's Market.
Housing Prices in Albany, MN
How much do homes in Albany, MN cost?
Median Sold Price
$244,600
$141/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Albany was $244,600 in May 2024, down 5.9% from last year, and the median price per square foot was $141.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $238K | - | N/A |
2 Bedrooms | $255.9K | $243.7K | -4.8% |
3 Bedrooms | $234.4K | $210K | -10.4% |
4 Bedrooms | $268.2K | $295K | +10.0% |
5+ Bedrooms | $487.5K | $489.9K | 0.5% |
Summary: Albany housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 10.4%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 0.5%.
Median Sold Price Compared To Nearby Cities
Albany Township | $260K | $250K | -3.8% |
Albany | $260K | $244.6K | -5.9% |
Housing Supply in Albany, MN
How many homes are available in Albany, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
6 | 8 | +33.3% |
Summary: The Albany real estate market had 8 homes for sale in May 2024, a 33.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 3 | 2 | -33.3% |
4 Bedrooms | 1 | 3 | +200.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Albany housing inventory by bedroom type for May 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 increased by 200%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 1 | -66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Albany in May 2024, down by 66.7% month-over-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 Albany, MN
How long does it take to sell a home in Albany, MN?
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
Summary: During May 2024, 1 homes were sold in Albany; 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.