$6,233 Closing Credit*
$524,900
3,082 SqFt
5 Beds
•2 Full Baths, 1 Partial
Listing Office: JPW Realty
Is Buffalo, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
Since last year, Buffalo has remained a Seller's Market.
Key Takeaway
Buffalo is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Buffalo, MN
How much do homes in Buffalo, MN cost?
Median Sold Price
$365,000
$178/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$8,666(+2.4%)
Key Takeaway
Homes in Buffalo have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Buffalo was $365,000 in November 2024, up 2.4% from last year, and the median price per square foot was $178.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $345K | -16.9% |
| 2 Bedrooms | $265K | $282.5K | +6.6% |
| 3 Bedrooms | $326.5K | $326K | -0.2% |
| 4 Bedrooms | $389.9K | $394K | +1.1% |
| 5+ Bedrooms | $434.4K | $415K | -4.5% |
Summary: Buffalo housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.9%, 2 bedroom homes increased by 6.6%, 3 bedroom homes decreased by 0.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 4.5%.
Median Sold Price Compared To Nearby Cities
| Buffalo Township | $355K | $365.6K | +3.0% |
| Buffalo | $356.3K | $365K | +2.4% |
| Rockford Township | $385.5K | $375K | -2.7% |
Housing Supply in Buffalo, MN
How many homes are available in Buffalo, MN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 100 | 86 | -14.0% |
Summary: The Buffalo real estate market had 86 homes for sale in November 2024, a 14.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 44 | 38 | -13.6% |
| 4 Bedrooms | 27 | 22 | -18.5% |
| 5+ Bedrooms | 17 | 14 | -17.6% |
Summary: The Buffalo housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 13.6%, 4 bedroom homes decreased by 18.5%, and 5+ bedroom homes decreased by 17.6%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 | 19 | -50.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Buffalo, expect to pay close to the asking price. 36.8% of homes here sold near the asking price last month.
Summary: A total of 19 homes were sold or pending in Buffalo in November 2024, down by 50.0% month-over-month. Of the 19 sold homes, 32% were sold under asking, 37% were sold at asking, and 32% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 44 Days | 38 Days | -12.1% |
Summary: Homes in Buffalo had an average of 38 days on market in Nov 2024, down by 12.1% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Buffalo are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 19 homes were sold in Buffalo; 53% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
