Is Austin, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Austin has remained a Seller's Market.
Key Takeaway
Austin is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Austin, MN
How much do homes in Austin, MN cost?
Median Sold Price
$179,000
$117/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Austin have sold for 5.3% more than they did a year ago.
Summary: The median home sold price in Austin was $179,000 in March 2024, up 5.3% from last year, and the median price per square foot was $117.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $74.9K | $56.7K | -24.3% |
| 2 Bedrooms | $128.7K | $144.9K | +12.5% |
| 3 Bedrooms | $170K | $169.9K | -0.1% |
| 4 Bedrooms | $253.5K | $292K | +15.2% |
| 5+ Bedrooms | $362.5K | $287.5K | -20.7% |
Summary: Austin housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 24.3%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes decreased by 20.7%.
Median Sold Price Compared To Nearby Cities
| Austin | $169.9K | $179K | +5.3% |
| Austin Township | $170K | $179K | +5.3% |
Housing Supply in Austin, MN
How many homes are available in Austin, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 92 | 95 | +3.3% |
Summary: The Austin real estate market had 95 homes for sale in March 2024, a 3.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 17 | 22 | +29.4% |
| 3 Bedrooms | 32 | 35 | +9.4% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 14 | 12 | -14.3% |
Summary: The Austin housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 29.4%, 3 bedroom homes increased by 9.4%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 25 | 17 | -32.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Austin, you may be able to get a good deal. 70.6% of homes here sold below asking price last month.
Summary: A total of 17 homes were sold or pending in Austin in March 2024, down by 32.0% month-over-month. Of the 17 sold homes, 71% were sold under asking, 18% were sold at asking, and 12% were sold over asking.
Days on Market for Austin, MN
How long does it take to sell a home in Austin, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 71 Days | 59 Days | -15.7% |
Summary: Homes in Austin had an average of 59 days on market in Mar 2024, down by 15.7% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Austin has remained consistent over time.
Summary: During March 2024, 17 homes were sold in Austin; 35% of homes were sold within 30 days, 41% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
