Is Buffalo, 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, Buffalo has remained a Seller's Market.
Housing Prices in Buffalo, MN
How much do homes in Buffalo, MN cost?
Median Sold Price
$363,725
$172/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Buffalo was $363,725 in April 2024, up 4% from last year, and the median price per square foot was $172.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $390K | +136.4% |
2 Bedrooms | $266K | $265K | -0.4% |
3 Bedrooms | $329.3K | $315K | -4.3% |
4 Bedrooms | $372K | $405K | +8.9% |
5+ Bedrooms | $439.8K | $419.6K | -4.6% |
Summary: Buffalo housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 136.4%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes decreased by 4.3%, 4 bedroom homes increased by 8.9%, and 5+ bedroom homes decreased by 4.6%.
Median Sold Price Compared To Nearby Cities
Buffalo Township | $344.1K | $363.7K | +5.7% |
Buffalo | $349.9K | $363.7K | +4.0% |
Rockford Township | $369.9K | $369.9K | 0.0% |
Chatham Township | $750K | $510K | -32.0% |
Housing Supply in Buffalo, MN
How many homes are available in Buffalo, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
98 | 113 | +15.3% |
Summary: The Buffalo real estate market had 113 homes for sale in April 2024, a 15.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 12 | 13 | +8.3% |
3 Bedrooms | 23 | 26 | +13.0% |
4 Bedrooms | 37 | 42 | +13.5% |
5+ Bedrooms | 24 | 30 | +25.0% |
Summary: The Buffalo 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 8.3%, 3 bedroom homes increased by 13%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
20 | 26 | +30.0% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 26 homes were sold or pending in Buffalo in April 2024, up by 30.0% month-over-month. Of the 26 sold homes, 38% were sold under asking, 23% were sold at asking, and 38% were sold over asking.
Days on Market for Buffalo, MN
How long does it take to sell a home in Buffalo, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
35 Days | 57 Days | +59.1% |
Summary: Homes in Buffalo had an average of 57 days on market in Apr 2024, up by 59.1% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
7 Homes Were Sold
Over 90 Days
Summary: During April 2024, 26 homes were sold in Buffalo; 42% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 27% of homes were sold over 90 days.