Is Credit River Township, 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, Credit River Township was a Buyer's Market.
Key Takeaway
Credit River Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Credit River Township, MN
How much do homes in Credit River Township, MN cost?
Median Sold Price
$842,500
$212/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Credit River Township have sold for 23% more than they did a year ago.
Summary: The median home sold price in Credit River Township was $842,500 in May 2024, up 23% from last year, and the median price per square foot was $212.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $550K | N/A |
| 3 Bedrooms | $395K | $520K | +31.6% |
| 4 Bedrooms | $693.5K | $771.6K | +11.3% |
| 5+ Bedrooms | $950K | $1.1M | +15.8% |
Summary: Credit River Township 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 did not change, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes increased by 15.8%.
Median Sold Price Compared To Nearby Cities
| Credit River Township | $685K | $842.5K | +23.0% |
| Spring Lake Township | $670K | $746.5K | +11.4% |
| Lakeville | $466.9K | $487.1K | +4.3% |
| Prior Lake | $480.6K | $481.6K | 0.2% |
| Savage | $425K | $414.6K | -2.4% |
Housing Supply in Credit River Township, MN
How many homes are available in Credit River Township, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 48 | +9.1% |
Summary: The Credit River Township real estate market had 48 homes for sale in May 2024, a 9.1% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 17 | 17 | 0.0% |
| 5+ Bedrooms | 19 | 22 | +15.8% |
Summary: The Credit River Township 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 remained the same, 3 bedroom homes increased by 12.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 15.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 10 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Credit River Township, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in Credit River Township in May 2024, up by 100.0% month-over-month. Of the 10 sold homes, 30% were sold under asking, 10% were sold at asking, and 60% were sold over asking.
Days on Market for Credit River Township, MN
How long does it take to sell a home in Credit River Township, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 5 Days | 36 Days | +620.0% |
Summary: Homes in Credit River Township had an average of 36 days on market in May 2024, up by 620% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Credit River Township are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Credit River Township; 50% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
