Is Fairmont 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, Fairmont Township has remained a Seller's Market.
Key Takeaway
Fairmont Township is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Fairmont Township, MN
How much do homes in Fairmont Township, MN cost?
Median Sold Price
$179,000
$106/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Fairmont Township have sold for 20.1% more than they did a year ago.
Summary: The median home sold price in Fairmont Township was $179,000 in April 2024, up 20.1% from last year, and the median price per square foot was $106.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $63K | $80K | +27.0% |
| 2 Bedrooms | $110K | $120K | +9.1% |
| 3 Bedrooms | $145.1K | $179.6K | +23.8% |
| 4 Bedrooms | $192.5K | $282.5K | +46.8% |
| 5+ Bedrooms | $362.5K | $190.2K | -47.5% |
Summary: Fairmont Township housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27%, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 23.8%, 4 bedroom homes increased by 46.8%, and 5+ bedroom homes decreased by 47.5%.
Median Sold Price Compared To Nearby Cities
| Fairmont Township | $149K | $179K | +20.1% |
| Fairmont | $151.9K | $179K | +17.8% |
Housing Supply in Fairmont Township, MN
How many homes are available in Fairmont Township, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 47 | 54 | +14.9% |
Summary: The Fairmont Township real estate market had 54 homes for sale in April 2024, a 14.9% 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 | 17 | 19 | +11.8% |
| 3 Bedrooms | 15 | 17 | +13.3% |
| 4 Bedrooms | 12 | 14 | +16.7% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Fairmont 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 increased by 11.8%, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 13 | +44.4% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Fairmont Township, you may be able to get a good deal. 46.2% of homes here sold below asking price last month.
Summary: A total of 13 homes were sold or pending in Fairmont Township in April 2024, up by 44.4% month-over-month. Of the 13 sold homes, 46% were sold under asking, 8% were sold at asking, and 46% were sold over asking.
Days on Market for Fairmont Township, MN
How long does it take to sell a home in Fairmont Township, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 56 Days | +64.3% |
Summary: Homes in Fairmont Township had an average of 56 days on market in Apr 2024, up by 64.3% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Fairmont Township are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 13 homes were sold in Fairmont Township; 54% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 31% of homes were sold over 90 days.
