Is First Assessment, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, First Assessment was a Buyer's Market.
Key Takeaway
First Assessment is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in First Assessment, MN
How much do homes in First Assessment, MN cost?
Median Sold Price
$372,500
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in First Assessment have sold for 8% more than they did a year ago.
Summary: The median home sold price in First Assessment was $372,500 in March 2024, up 8% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $319.9K | $150K | -53.1% |
| 2 Bedrooms | $250K | $327.5K | +31.0% |
| 3 Bedrooms | $344K | $338K | -1.7% |
| 4 Bedrooms | $477K | $425K | -10.9% |
| 5+ Bedrooms | $662.7K | $682.9K | +3.0% |
Summary: First Assessment housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 53.1%, 2 bedroom homes increased by 31%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes decreased by 10.9%, and 5+ bedroom homes increased by 3%.
Housing Supply in First Assessment, MN
How many homes are available in First Assessment, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 30 | 46 | +53.3% |
Summary: The First Assessment real estate market had 46 homes for sale in March 2024, a 53.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 10 | 11 | +10.0% |
| 3 Bedrooms | 6 | 14 | +133.3% |
| 4 Bedrooms | 8 | 12 | +50.0% |
| 5+ Bedrooms | 6 | 9 | +50.0% |
Summary: The First Assessment housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 10%, 3 bedroom homes increased by 133.3%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 1 | 9 | +800.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in First Assessment, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in First Assessment in March 2024, up by 800.0% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for First Assessment, MN
How long does it take to sell a home in First Assessment, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 133 Days | 66 Days | -49.8% |
Summary: Homes in First Assessment had an average of 66 days on market in Mar 2024, down by 49.8% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in First Assessment are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in First Assessment; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
