Is Empire Township, 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, Empire Township has remained a Seller's Market.
Key Takeaway
Empire Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Empire Township, MN
How much do homes in Empire Township, MN cost?
Median Sold Price
$435,000
$194/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Empire Township have sold for 8.8% less than they did a year ago.
Summary: The median home sold price in Empire Township was $435,000 in April 2024, down 8.8% from last year, and the median price per square foot was $194.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $410K | $232K | -43.4% |
| 3 Bedrooms | $343.8K | $428K | +24.5% |
| 4 Bedrooms | $490K | $495K | +1.0% |
| 5+ Bedrooms | $550K | $493.5K | -10.3% |
Summary: Empire Township 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 43.4%, 3 bedroom homes increased by 24.5%, 4 bedroom homes increased by 1%, and 5+ bedroom homes decreased by 10.3%.
Median Sold Price Compared To Nearby Cities
| Farmington | $375K | $385K | +2.7% |
| Rosemount | $389.8K | $394.2K | +1.1% |
| Empire Township | $477K | $435K | -8.8% |
Housing Supply in Empire Township, MN
How many homes are available in Empire Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 10 | +25.0% |
Summary: The Empire Township real estate market had 10 homes for sale in April 2024, a 25.0% 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 | 1 | 1 | 0.0% |
| 3 Bedrooms | 3 | 3 | 0.0% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Empire Township 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 remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 0 | 6 | +100.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Empire Township, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Empire Township in April 2024, up by 100.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Empire Township, MN
How long does it take to sell a home in Empire Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 25 Days | 29 Days | +16.0% |
Summary: Homes in Empire Township had an average of 29 days on market in Apr 2024, up by 16% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Empire Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 6 homes were sold in Empire Township; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
