Is Elbow Lake, 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, Elbow Lake has remained a Neutral Market.
Housing Prices in Elbow Lake, MN
How much do homes in Elbow Lake, MN cost?
Median Sold Price
$149,900
$96/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Elbow Lake was $149,900 in April 2024, up 15.8% from last year, and the median price per square foot was $96.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $48.7K | - | N/A |
2 Bedrooms | $145K | $113.4K | -21.8% |
3 Bedrooms | $125K | $149.9K | +19.9% |
4 Bedrooms | $176K | $207.5K | +17.9% |
5+ Bedrooms | $107K | $210.9K | +97.1% |
Summary: Elbow Lake housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 21.8%, 3 bedroom homes increased by 19.9%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 97.1%.
Housing Supply in Elbow Lake, MN
How many homes are available in Elbow Lake, MN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
6 | 7 | +16.7% |
Summary: The Elbow Lake real estate market had 7 homes for sale in April 2024, a 16.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 4 | +33.3% |
3 Bedrooms | 1 | 1 | 0.0% |
4 Bedrooms | 1 | 0 | -100.0% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Elbow Lake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 1 | -50.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 1 homes were sold or pending in Elbow Lake in April 2024, down by 50.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Elbow Lake, MN
How long does it take to sell a home in Elbow Lake, MN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
144 Days | 137 Days | -4.9% |
Summary: Homes in Elbow Lake had an average of 137 days on market in Apr 2024, down by 4.9% compared to last year.
Breakdown of Home Sale Times
0 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Summary: During April 2024, 1 homes were sold in Elbow Lake; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.