Is Corcoran, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Corcoran was a Seller's Market.
Key Takeaway
Corcoran is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Corcoran, MN
How much do homes in Corcoran, MN cost?
Median Sold Price
$551,915
$234/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Corcoran have sold for 2.4% less than they did a year ago.
Summary: The median home sold price in Corcoran was $551,915 in May 2024, down 2.4% from last year, and the median price per square foot was $234.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $437.9K | N/A |
| 2 Bedrooms | $464.9K | $498.1K | +7.1% |
| 3 Bedrooms | $479K | $468.4K | -2.2% |
| 4 Bedrooms | $625K | $624.9K | 0% |
| 5+ Bedrooms | $681.5K | $743.9K | +9.2% |
Summary: Corcoran 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 increased by 7.1%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Cities
| Hamel | $649.9K | $681.9K | +4.9% |
| Maple Grove | $399.3K | $403.4K | +1.0% |
| Hanover | $435K | $435K | 0.0% |
| Corcoran | $565.4K | $551.9K | -2.4% |
| Rogers | $449.9K | $437.9K | -2.7% |
Housing Supply in Corcoran, MN
How many homes are available in Corcoran, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 138 | 149 | +8.0% |
Summary: The Corcoran real estate market had 149 homes for sale in May 2024, a 8.0% 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 | 18 | 17 | -5.6% |
| 3 Bedrooms | 46 | 46 | 0.0% |
| 4 Bedrooms | 42 | 52 | +23.8% |
| 5+ Bedrooms | 32 | 34 | +6.3% |
Summary: The Corcoran 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 decreased by 5.6%, 3 bedroom homes remained the same, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes increased by 6.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 17 | 23 | +35.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Corcoran, expect to pay close to the asking price. 43.5% of homes here sold near the asking price last month.
Summary: A total of 23 homes were sold or pending in Corcoran in May 2024, up by 35.3% month-over-month. Of the 23 sold homes, 30% were sold under asking, 43% were sold at asking, and 26% were sold over asking.
Days on Market for Corcoran, MN
How long does it take to sell a home in Corcoran, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 46 Days | 25 Days | -45.7% |
Summary: Homes in Corcoran had an average of 25 days on market in May 2024, down by 45.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Corcoran are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 23 homes were sold in Corcoran; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
