Is Credit River Township, 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, Credit River Township was a Seller's Market.
Key Takeaway
Credit River Township is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Credit River Township, MN
How much do homes in Credit River Township, MN cost?
Median Sold Price
$875,000
$213/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Credit River Township have sold for 27.7% more than they did a year ago.
Summary: The median home sold price in Credit River Township was $875,000 in March 2024, up 27.7% from last year, and the median price per square foot was $213.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | $550K | N/A |
| 3 Bedrooms | $395K | $520K | +31.6% |
| 4 Bedrooms | $685K | $885K | +29.2% |
| 5+ Bedrooms | $950K | $1.0M | +14.5% |
Summary: Credit River Township housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 31.6%, 4 bedroom homes increased by 29.2%, and 5+ bedroom homes increased by 14.5%.
Median Sold Price Compared To Nearby Cities
| Credit River Township | $685K | $875K | +27.7% |
| Spring Lake Township | $670K | $732.8K | +9.4% |
| Prior Lake | $492.8K | $504K | +2.3% |
| Lakeville | $474.7K | $480.1K | +1.1% |
| Savage | $426K | $418.3K | -1.8% |
Housing Supply in Credit River Township, MN
How many homes are available in Credit River Township, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 23 | 30 | +30.4% |
Summary: The Credit River Township real estate market had 30 homes for sale in March 2024, a 30.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 8 | 9 | +12.5% |
| 5+ Bedrooms | 11 | 17 | +54.5% |
Summary: The Credit River Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 54.5%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 4 | +100.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Credit River Township, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Credit River Township in March 2024, up by 100.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Credit River Township, MN
How long does it take to sell a home in Credit River Township, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 85 Days | 133 Days | +55.7% |
Summary: Homes in Credit River Township had an average of 133 days on market in Mar 2024, up by 55.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Credit River Township are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 4 homes were sold in Credit River Township; 25% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 75% of homes were sold over 90 days.
