Is Medina, 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, Medina was a Seller's Market.
Key Takeaway
Medina 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 Medina, MN
How much do homes in Medina, MN cost?
Median Sold Price
$810,000
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Medina has remained the same since last year.
Summary: The median home sold price in Medina was $810,000 in May 2024, down 0.1% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $567K | N/A |
| 2 Bedrooms | $295K | $357.5K | +21.2% |
| 3 Bedrooms | $464.5K | $500K | +7.6% |
| 4 Bedrooms | $756.6K | $752.5K | -0.6% |
| 5+ Bedrooms | $985K | $1.1M | +15.0% |
Summary: Medina 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 21.2%, 3 bedroom homes increased by 7.6%, 4 bedroom homes decreased by 0.6%, and 5+ bedroom homes increased by 15%.
Housing Supply in Medina, MN
How many homes are available in Medina, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 50 | 61 | +22.0% |
Summary: The Medina real estate market had 61 homes for sale in May 2024, a 22.0% 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 | 1 | 0 | -100.0% |
| 3 Bedrooms | 15 | 15 | 0.0% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 22 | 30 | +36.4% |
Summary: The Medina 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 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 36.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 7 | 10 | +42.9% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medina, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Medina in May 2024, up by 42.9% month-over-month. Of the 10 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Medina, MN
How long does it take to sell a home in Medina, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 158 Days | 84 Days | -46.6% |
Summary: Homes in Medina had an average of 84 days on market in May 2024, down by 46.6% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medina are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in Medina; 50% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
