Is Buffalo, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Buffalo was a Seller's Market.
Housing Prices in Buffalo, MN
How much do homes in Buffalo, MN cost?
Median Sold Price
$365,833
$174/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Buffalo was $365,833 in March 2024, up 5.9% from last year, and the median price per square foot was $174.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $165K | $367.5K | +122.7% |
2 Bedrooms | $255.5K | $265K | +3.7% |
3 Bedrooms | $327.5K | $317.7K | -3.0% |
4 Bedrooms | $373.5K | $425K | +13.8% |
5+ Bedrooms | $436.5K | $420K | -3.8% |
Summary: Buffalo housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 122.7%, 2 bedroom homes increased by 3.7%, 3 bedroom homes decreased by 3%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes decreased by 3.8%.
Median Sold Price Compared To Nearby Cities
Buffalo Township | $340.4K | $365.8K | +7.5% |
Buffalo | $345.3K | $365.8K | +5.9% |
Rockford Township | $365K | $380K | +4.1% |
Housing Supply in Buffalo, MN
How many homes are available in Buffalo, MN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
91 | 98 | +7.7% |
Summary: The Buffalo real estate market had 98 homes for sale in March 2024, a 7.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 2 | -33.3% |
2 Bedrooms | 10 | 13 | +30.0% |
3 Bedrooms | 24 | 25 | +4.2% |
4 Bedrooms | 36 | 35 | -2.8% |
5+ Bedrooms | 18 | 23 | +27.8% |
Summary: The Buffalo housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 30%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 2.8%, and 5+ bedroom homes increased by 27.8%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
14 | 15 | +7.1% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in Buffalo in March 2024, up by 7.1% month-over-month. Of the 15 sold homes, 47% were sold under asking, 40% were sold at asking, and 13% were sold over asking.
Days on Market for Buffalo, MN
How long does it take to sell a home in Buffalo, MN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 43 Days | +34.0% |
Summary: Homes in Buffalo had an average of 43 days on market in Mar 2024, up by 34% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in Buffalo; 53% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.