Is New Market Township, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, New Market Township was a Seller's Market.
Key Takeaway
New Market Township 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 New Market Township, MN
How much do homes in New Market Township, MN cost?
Median Sold Price
$615,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in New Market Township have sold for 2.3% more than they did a year ago.
Summary: The median home sold price in New Market Township was $615,000 in April 2024, up 2.3% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $443.8K | - | N/A |
| 3 Bedrooms | $444.1K | $454.3K | +2.3% |
| 4 Bedrooms | $665.5K | $700K | +5.2% |
| 5+ Bedrooms | $624K | $675K | +8.2% |
Summary: New Market Township housing prices by bedroom type for April 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 2.3%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 8.2%.
Median Sold Price Compared To Nearby Cities
| Cedar Lake Township | $625K | $747.9K | +19.7% |
| New Market Township | $601.2K | $615K | +2.3% |
| Elko New Market | $455K | $462.7K | +1.7% |
| Webster | $559.3K | $496.9K | -11.2% |
Housing Supply in New Market Township, MN
How many homes are available in New Market Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 33 | 32 | -3.0% |
Summary: The New Market Township real estate market had 32 homes for sale in April 2024, a 3.0% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 9 | 10 | +11.1% |
| 4 Bedrooms | 19 | 17 | -10.5% |
| 5+ Bedrooms | 5 | 5 | 0.0% |
Summary: The New Market Township housing inventory by bedroom type for April 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 11.1%, 4 bedroom homes decreased by 10.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 7 | 5 | -28.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in New Market Township, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in New Market Township in April 2024, down by 28.6% month-over-month. Of the 5 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% were sold over asking.
Days on Market for New Market Township, MN
How long does it take to sell a home in New Market Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 99 Days | 23 Days | -76.3% |
Summary: Homes in New Market Township had an average of 23 days on market in Apr 2024, down by 76.3% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in New Market Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 5 homes were sold in New Market Township; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
