Is Faribault County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Faribault County was a Seller's Market.
Housing Prices in Faribault County, MN
How much do homes in Faribault County, MN cost?
Median Sold Price
$135,000
$79/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Faribault County was $135,000 in April 2024, up 3.8% from last year, and the median price per square foot was $79.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $6K | $77.5K | +1191.7% |
2 Bedrooms | $125K | $116.5K | -6.8% |
3 Bedrooms | $126.8K | $120K | -5.4% |
4 Bedrooms | $150K | $171.5K | +14.3% |
5+ Bedrooms | $45K | $180K | +300.0% |
Summary: Faribault County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1191.7%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes decreased by 5.4%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 300%.
Median Sold Price Compared To Nearby Counties
Waseca County | $210K | $242K | +15.2% |
Martin County | $145.1K | $163.5K | +12.7% |
Faribault County | $130K | $135K | +3.8% |
Blue Earth County | $292.5K | $292.5K | 0.0% |
Housing Supply in Faribault County, MN
How many homes are available in Faribault County, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
33 | 40 | +21.2% |
Summary: The Faribault County real estate market had 40 homes for sale in April 2024, a 21.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 4 | 5 | +25.0% |
3 Bedrooms | 17 | 19 | +11.8% |
4 Bedrooms | 10 | 13 | +30.0% |
5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Faribault County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 6 | +500.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Faribault County in April 2024, up by 500.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% were sold over asking.
Days on Market for Faribault County, MN
How long does it take to sell a home in Faribault County, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
65 Days | 44 Days | -31.3% |
Summary: Homes in Faribault County had an average of 44 days on market in Apr 2024, down by 31.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 6 homes were sold in Faribault County; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.