Is Hermantown, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Hermantown has remained a Buyer's Market.
Housing Prices in Hermantown, MN
How much do homes in Hermantown, MN cost?
Median Sold Price
$852,500
$214/sqft
Based on all homes sold in May 2024.
Difference Since Last Month
Summary: The median home sold price in Hermantown was $852,500 in May 2024, up 902.9% from last month, and the median price per square foot was $214.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $85K | - | N/A |
3 Bedrooms | - | - | N/A |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | $852.5K | N/A |
Summary: Hermantown housing prices by bedroom type for May 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
Hermantown | $85K | $852.5K | +902.9% |
Proctor | $401K | $209K | -47.9% |
Housing Supply in Hermantown, MN
How many homes are available in Hermantown, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
16 | 27 | +68.8% |
Summary: The Hermantown real estate market had 27 homes for sale in May 2024, a 68.8% 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 | 3 | 2 | -33.3% |
3 Bedrooms | 5 | 9 | +80.0% |
4 Bedrooms | 3 | 9 | +200.0% |
5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Hermantown 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 33.3%, 3 bedroom homes increased by 80%, 4 bedroom homes increased by 200%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1 | 1 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Hermantown in May 2024, the same as the previous month. Of the 1 sold homes, 0% were sold under asking, 0% were sold at asking, and 100% were sold over asking.
Days on Market for Hermantown, MN
How long does it take to sell a home in Hermantown, MN?
Average Sale Time
Apr 2024 | May 2024 | CHANGE |
---|---|---|
10 Days | 3 Days | -70.0% |
Summary: Homes in Hermantown had an average of 3 days on market in May 2024, down by 70% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 1 homes were sold in Hermantown; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.