Is Deer River, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Deer River has remained a Seller's Market.
Key Takeaway
Deer River is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Deer River, MN
How much do homes in Deer River, MN cost?
Median Sold Price
$287,500
$180/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Deer River have sold for 19.8% more than they did a year ago.
Summary: The median home sold price in Deer River was $287,500 in April 2024, up 19.8% from last year, and the median price per square foot was $180.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $167.5K | $155K | -7.5% |
| 2 Bedrooms | $222.4K | $170K | -23.6% |
| 3 Bedrooms | $187.5K | $340K | +81.3% |
| 4 Bedrooms | $279.9K | $466.5K | +66.7% |
| 5+ Bedrooms | $350K | $525K | +50.0% |
Summary: Deer River housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes decreased by 23.6%, 3 bedroom homes increased by 81.3%, 4 bedroom homes increased by 66.7%, and 5+ bedroom homes increased by 50%.
Median Sold Price Compared To Nearby Cities
| Deer River | $240K | $287.5K | +19.8% |
| Deer River Township | $240K | $287.5K | +19.8% |
Housing Supply in Deer River, MN
How many homes are available in Deer River, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 14 | 14 | 0.0% |
Summary: The Deer River real estate market had 14 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 1 | -50.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Deer River housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Deer River, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 4 homes were sold or pending in Deer River in April 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 25% were sold at asking, and 25% were sold over asking.
Days on Market for Deer River, MN
How long does it take to sell a home in Deer River, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 15 Days | 74 Days | +398.3% |
Summary: Homes in Deer River had an average of 74 days on market in Apr 2024, up by 398.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Deer River are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During April 2024, 4 homes were sold in Deer River; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
