Is Cottage Grove, 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, Cottage Grove has remained a Seller's Market.
Housing Prices in Cottage Grove, MN
How much do homes in Cottage Grove, MN cost?
Median Sold Price
$399,183
$192/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Cottage Grove was $399,183 in May 2024, up 1.2% from last year, and the median price per square foot was $192.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $333K | $205K | -38.4% |
2 Bedrooms | $260K | $280K | +7.7% |
3 Bedrooms | $370K | $368.3K | -0.5% |
4 Bedrooms | $460K | $440K | -4.3% |
5+ Bedrooms | $443.5K | $504.5K | +13.8% |
Summary: Cottage Grove housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 38.4%, 2 bedroom homes increased by 7.7%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes decreased by 4.3%, and 5+ bedroom homes increased by 13.8%.
Median Sold Price Compared To Nearby Cities
Cottage Grove | $394.5K | $399.1K | +1.2% |
Saint Paul Park | $302.5K | $297K | -1.8% |
Housing Supply in Cottage Grove, MN
How many homes are available in Cottage Grove, MN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
233 | 287 | +23.2% |
Summary: The Cottage Grove real estate market had 287 homes for sale in May 2024, a 23.2% 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 | 19 | 24 | +26.3% |
3 Bedrooms | 94 | 126 | +34.0% |
4 Bedrooms | 82 | 95 | +15.9% |
5+ Bedrooms | 37 | 41 | +10.8% |
Summary: The Cottage Grove 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 26.3%, 3 bedroom homes increased by 34%, 4 bedroom homes increased by 15.9%, and 5+ bedroom homes increased by 10.8%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
54 | 53 | -1.9% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
10 Homes Were Sold
At Asking
34 Homes Were Sold
Over Asking
Summary: A total of 53 homes were sold or pending in Cottage Grove in May 2024, down by 1.9% month-over-month. Of the 53 sold homes, 17% were sold under asking, 19% were sold at asking, and 64% were sold over asking.
Days on Market for Cottage Grove, MN
How long does it take to sell a home in Cottage Grove, MN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
22 Days | 22 Days | +1.3% |
Summary: Homes in Cottage Grove had an average of 22 days on market in May 2024, up by 1.3% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 53 homes were sold in Cottage Grove; 77% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.