Is Hastings, 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, Hastings has remained a Seller's Market.
Key Takeaway
Hastings is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hastings, MN
How much do homes in Hastings, MN cost?
Median Sold Price
$340,000
$176/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hastings have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Hastings was $340,000 in May 2024, up 9.7% from last year, and the median price per square foot was $176.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $247.5K | $272.4K | +10.1% |
| 3 Bedrooms | $290K | $325K | +12.1% |
| 4 Bedrooms | $374.9K | $415K | +10.7% |
| 5+ Bedrooms | $540K | $470K | -13.0% |
Summary: Hastings 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 10.1%, 3 bedroom homes increased by 12.1%, 4 bedroom homes increased by 10.7%, and 5+ bedroom homes decreased by 13%.
Housing Supply in Hastings, MN
How many homes are available in Hastings, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 96 | 115 | +19.8% |
Summary: The Hastings real estate market had 115 homes for sale in May 2024, a 19.8% 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 | 23 | 24 | +4.3% |
| 3 Bedrooms | 39 | 49 | +25.6% |
| 4 Bedrooms | 21 | 28 | +33.3% |
| 5+ Bedrooms | 13 | 14 | +7.7% |
Summary: The Hastings 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 4.3%, 3 bedroom homes increased by 25.6%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 7.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 27 | +3.8% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hastings, you could pay more than the asking price. 44.4% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Hastings in May 2024, up by 3.8% month-over-month. Of the 27 sold homes, 41% were sold under asking, 15% were sold at asking, and 44% were sold over asking.
Days on Market for Hastings, MN
How long does it take to sell a home in Hastings, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 21 Days | 27 Days | +29.4% |
Summary: Homes in Hastings had an average of 27 days on market in May 2024, up by 29.4% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Hastings are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Hastings; 70% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
