Is Zimmerman, 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, Zimmerman has remained a Seller's Market.
Key Takeaway
Zimmerman is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Zimmerman, MN
How much do homes in Zimmerman, MN cost?
Median Sold Price
$367,000
$181/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Zimmerman have sold for 5.6% more than they did a year ago.
Summary: The median home sold price in Zimmerman was $367,000 in May 2024, up 5.6% from last year, and the median price per square foot was $181.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $172.4K | $250.7K | +45.4% |
| 2 Bedrooms | $274.5K | $279.5K | +1.8% |
| 3 Bedrooms | $319K | $336K | +5.4% |
| 4 Bedrooms | $397K | $389.9K | -1.8% |
| 5+ Bedrooms | $562.5K | $460K | -18.2% |
Summary: Zimmerman housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.4%, 2 bedroom homes increased by 1.8%, 3 bedroom homes increased by 5.4%, 4 bedroom homes decreased by 1.8%, and 5+ bedroom homes decreased by 18.2%.
Median Sold Price Compared To Nearby Cities
| Zimmerman | $347.5K | $367K | +5.6% |
| Livonia Township | $469K | $440K | -6.2% |
Housing Supply in Zimmerman, MN
How many homes are available in Zimmerman, MN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 94 | +17.5% |
Summary: The Zimmerman real estate market had 94 homes for sale in May 2024, a 17.5% 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 | 16 | 19 | +18.8% |
| 3 Bedrooms | 17 | 24 | +41.2% |
| 4 Bedrooms | 35 | 39 | +11.4% |
| 5+ Bedrooms | 12 | 12 | 0.0% |
Summary: The Zimmerman 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 18.8%, 3 bedroom homes increased by 41.2%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 22 | +37.5% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Zimmerman, you could pay more than the asking price. 45.5% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Zimmerman in May 2024, up by 37.5% month-over-month. Of the 22 sold homes, 36% were sold under asking, 18% were sold at asking, and 45% were sold over asking.
Days on Market for Zimmerman, MN
How long does it take to sell a home in Zimmerman, MN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 16 Days | 20 Days | +26.2% |
Summary: Homes in Zimmerman had an average of 20 days on market in May 2024, up by 26.2% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Zimmerman are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 22 homes were sold in Zimmerman; 77% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
