Is North Branch, 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, North Branch was a Seller's Market.
Key Takeaway
North Branch is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in North Branch, MN
How much do homes in North Branch, MN cost?
Median Sold Price
$340,000
$198/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in North Branch have sold for 4.6% more than they did a year ago.
Summary: The median home sold price in North Branch was $340,000 in May 2024, up 4.6% from last year, and the median price per square foot was $198.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $500K | N/A |
| 2 Bedrooms | $297.6K | $325.2K | +9.3% |
| 3 Bedrooms | $325.2K | $337.9K | +3.9% |
| 4 Bedrooms | $356.6K | $365K | +2.3% |
| 5+ Bedrooms | $402.5K | $415K | +3.1% |
Summary: North Branch 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 9.3%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 3.1%.
Median Sold Price Compared To Nearby Cities
| North Branch Township | $325K | $341.9K | +5.2% |
| North Branch | $325K | $340K | +4.6% |
| Harris | $384K | $399.9K | +4.1% |
| Sunrise Township | $456.9K | $407.3K | -10.8% |
Housing Supply in North Branch, MN
How many homes are available in North Branch, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 88 | 157 | +78.4% |
Summary: The North Branch real estate market had 157 homes for sale in May 2024, a 78.4% 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 | 11 | 26 | +136.4% |
| 3 Bedrooms | 50 | 89 | +78.0% |
| 4 Bedrooms | 20 | 29 | +45.0% |
| 5+ Bedrooms | 7 | 13 | +85.7% |
Summary: The North Branch 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 increased by 136.4%, 3 bedroom homes increased by 78%, 4 bedroom homes increased by 45%, and 5+ bedroom homes increased by 85.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 22 | +37.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in North Branch, you could pay more than the asking price. 40.9% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in North Branch in May 2024, up by 37.5% month-over-month. Of the 22 sold homes, 23% were sold under asking, 36% were sold at asking, and 41% were sold over asking.
Days on Market for North Branch, MN
How long does it take to sell a home in North Branch, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 25 Days | -6.2% |
Summary: Homes in North Branch had an average of 25 days on market in May 2024, down by 6.2% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in North Branch are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in North Branch; 82% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
