Is Olmsted County, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Olmsted County has remained a Seller's Market.
Housing Prices in Olmsted County, MN
How much do homes in Olmsted County, MN cost?
Median Sold Price
$318,987
$168/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Olmsted County was $318,987 in April 2024, up 1.3% from last year, and the median price per square foot was $168.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $119.5K | $137.5K | +15.1% |
2 Bedrooms | $228K | $232.2K | +1.9% |
3 Bedrooms | $275K | $279.8K | +1.8% |
4 Bedrooms | $360.8K | $366.6K | +1.6% |
5+ Bedrooms | $530K | $567.5K | +7.1% |
Summary: Olmsted County housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.1%, 2 bedroom homes increased by 1.9%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 7.1%.
Median Sold Price Compared To Nearby Counties
Mower County | $170.7K | $185.7K | +8.8% |
Wabasha County | $265K | $287.4K | +8.5% |
Dodge County | $262.4K | $278.3K | +6.1% |
Goodhue County | $287.3K | $291.9K | +1.6% |
Olmsted County | $315K | $318.9K | +1.3% |
Housing Supply in Olmsted County, MN
How many homes are available in Olmsted County, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
673 | 803 | +19.3% |
Summary: The Olmsted County real estate market had 803 homes for sale in April 2024, a 19.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 9 | 7 | -22.2% |
2 Bedrooms | 116 | 141 | +21.6% |
3 Bedrooms | 172 | 212 | +23.3% |
4 Bedrooms | 272 | 308 | +13.2% |
5+ Bedrooms | 104 | 135 | +29.8% |
Summary: The Olmsted County housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 22.2%, 2 bedroom homes increased by 21.6%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 13.2%, and 5+ bedroom homes increased by 29.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
157 | 178 | +13.4% |
Asking Price vs. Sold Price
58 Homes Were Sold
Under Asking
53 Homes Were Sold
At Asking
67 Homes Were Sold
Over Asking
Summary: A total of 178 homes were sold or pending in Olmsted County in April 2024, up by 13.4% month-over-month. Of the 178 sold homes, 33% were sold under asking, 30% were sold at asking, and 38% were sold over asking.
Days on Market for Olmsted County, MN
How long does it take to sell a home in Olmsted County, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
42 Days | 40 Days | -4.8% |
Summary: Homes in Olmsted County had an average of 40 days on market in Apr 2024, down by 4.8% compared to last year.
Breakdown of Home Sale Times
125 Homes Were Sold
Under 30 Days
29 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Summary: During April 2024, 178 homes were sold in Olmsted County; 70% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.