Is Saint Michael, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Saint Michael has remained a Seller's Market.
Key Takeaway
Saint Michael is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Saint Michael, MN
How much do homes in Saint Michael, MN cost?
Median Sold Price
$434,633
$189/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Saint Michael have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Saint Michael was $434,633 in May 2024, up 1.1% from last year, and the median price per square foot was $189.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $295K | $309.9K | +5.1% |
| 3 Bedrooms | $374K | $379.9K | +1.6% |
| 4 Bedrooms | $455K | $477.6K | +5.0% |
| 5+ Bedrooms | $484.9K | $522.4K | +7.7% |
Summary: Saint Michael 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 5.1%, 3 bedroom homes increased by 1.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 7.7%.
Median Sold Price Compared To Nearby Cities
| Otsego | $415.7K | $424.9K | +2.2% |
| Saint Michael | $430K | $434.6K | +1.1% |
| Albertville | $370K | $370K | 0.0% |
| Hanover | $435K | $435K | 0.0% |
| Hassan Township | $539K | $482.4K | -10.5% |
Housing Supply in Saint Michael, MN
How many homes are available in Saint Michael, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 153 | 171 | +11.8% |
Summary: The Saint Michael real estate market had 171 homes for sale in May 2024, a 11.8% 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 | 13 | 13 | 0.0% |
| 3 Bedrooms | 58 | 61 | +5.2% |
| 4 Bedrooms | 51 | 60 | +17.6% |
| 5+ Bedrooms | 31 | 37 | +19.4% |
Summary: The Saint Michael 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 5.2%, 4 bedroom homes increased by 17.6%, and 5+ bedroom homes increased by 19.4%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 36 | +12.5% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
13 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Saint Michael, you may be able to get a good deal. 36.1% of homes here sold below asking price last month.
Summary: A total of 36 homes were sold or pending in Saint Michael in May 2024, up by 12.5% month-over-month. Of the 36 sold homes, 36% were sold under asking, 36% were sold at asking, and 28% were sold over asking.
Days on Market for Saint Michael, MN
How long does it take to sell a home in Saint Michael, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 33 Days | +42.1% |
Summary: Homes in Saint Michael had an average of 33 days on market in May 2024, up by 42.1% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Saint Michael are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 36 homes were sold in Saint Michael; 64% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
