Is Downtown West, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Downtown West was a Seller's Market.
Housing Prices in Downtown West, MN
How much do homes in Downtown West, MN cost?
Median Sold Price
$227,500
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Downtown West was $227,500 in April 2024, down 1.1% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $175K | $171K | -2.3% |
2 Bedrooms | $380K | $262.5K | -30.9% |
3 Bedrooms | $1.1M | $1.1M | +5.4% |
4 Bedrooms | - | - | N/A |
5+ Bedrooms | - | - | N/A |
Summary: Downtown West housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.3%, 2 bedroom homes decreased by 30.9%, 3 bedroom homes increased by 5.4%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Central | $325.6K | $340K | +4.4% |
North Loop | $395K | $400K | +1.3% |
Downtown East | $607.5K | $612K | +0.7% |
Downtown West | $230K | $227.5K | -1.1% |
Elliot Park | $336K | $328.5K | -2.2% |
Housing Supply in Downtown West, MN
How many homes are available in Downtown West, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
60 | 64 | +6.7% |
Summary: The Downtown West real estate market had 64 homes for sale in April 2024, a 6.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 22 | 31 | +40.9% |
2 Bedrooms | 30 | 28 | -6.7% |
3 Bedrooms | 7 | 4 | -42.9% |
4 Bedrooms | 1 | 1 | 0.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Downtown West housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40.9%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 42.9%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
15 | 8 | -46.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 8 homes were sold or pending in Downtown West in April 2024, down by 46.7% month-over-month. Of the 8 sold homes, 75% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Downtown West, MN
How long does it take to sell a home in Downtown West, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
71 Days | 95 Days | +33.4% |
Summary: Homes in Downtown West had an average of 95 days on market in Apr 2024, up by 33.4% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 8 homes were sold in Downtown West; 38% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.