Is Waite Park, 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, Waite Park has remained a Seller's Market.
Key Takeaway
Waite Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Waite Park, MN
How much do homes in Waite Park, MN cost?
Median Sold Price
$241,000
$152/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Waite Park have sold for 9.6% more than they did a year ago.
Summary: The median home sold price in Waite Park was $241,000 in May 2024, up 9.6% from last year, and the median price per square foot was $152.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $85K | -5.6% |
| 2 Bedrooms | $209K | $247K | +18.2% |
| 3 Bedrooms | $230K | $249K | +8.3% |
| 4 Bedrooms | $237K | $235K | -0.8% |
| 5+ Bedrooms | $215K | $212.5K | -1.2% |
Summary: Waite Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.6%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 8.3%, 4 bedroom homes decreased by 0.8%, and 5+ bedroom homes decreased by 1.2%.
Median Sold Price Compared To Nearby Cities
| Waite Park | $219.9K | $241K | +9.6% |
| Saint Cloud | $230.6K | $235K | +1.9% |
Housing Supply in Waite Park, MN
How many homes are available in Waite Park, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 32 | +60.0% |
Summary: The Waite Park real estate market had 32 homes for sale in May 2024, a 60.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 12 | +200.0% |
| 3 Bedrooms | 5 | 10 | +100.0% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Waite Park 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 200%, 3 bedroom homes increased by 100%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 7 | +133.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
3 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Waite Park, expect to pay close to the asking price. 42.9% of homes here sold near the asking price last month.
Summary: A total of 7 homes were sold or pending in Waite Park in May 2024, up by 133.3% month-over-month. Of the 7 sold homes, 14% were sold under asking, 43% were sold at asking, and 43% were sold over asking.
Days on Market for Waite Park, MN
How long does it take to sell a home in Waite Park, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 56 Days | +208.2% |
Summary: Homes in Waite Park had an average of 56 days on market in May 2024, up by 208.2% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Waite Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 7 homes were sold in Waite Park; 57% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
