Is Granite Falls, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Since last month, Granite Falls has remained a Seller's Market.
Key Takeaway
Granite Falls is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Granite Falls, MN
How much do homes in Granite Falls, MN cost?
Median Sold Price
$350,000
$92/sqft
Based on all homes sold in March 2024.
Difference Since Last Month
Key Takeaway
Homes in Granite Falls have sold for 100% more than they did a month ago.
Summary: The median home sold price in Granite Falls was $350,000 in March 2024, up 100% from last month, and the median price per square foot was $92.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $155K | $237.4K | +53.2% |
| 4 Bedrooms | $187.5K | - | N/A |
| 5+ Bedrooms | - | $350K | N/A |
Summary: Granite Falls housing prices by bedroom type for March 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 53.2%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Granite Falls | $175K | $350K | +100.0% |
| Granite Falls Township | $175K | $350K | +100.0% |
Housing Supply in Granite Falls, MN
How many homes are available in Granite Falls, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 15 | -6.3% |
Summary: The Granite Falls real estate market had 15 homes for sale in March 2024, a 6.3% decrease 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 | 3 | 3 | 0.0% |
| 3 Bedrooms | 3 | 4 | +33.3% |
| 4 Bedrooms | 7 | 5 | -28.6% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Granite Falls 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 remained the same, 3 bedroom homes increased by 33.3%, 4 bedroom homes decreased by 28.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 3 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Granite Falls, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.
Summary: A total of 3 homes were sold or pending in Granite Falls in March 2024, the same as the previous month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.
Days on Market for Granite Falls, MN
How long does it take to sell a home in Granite Falls, MN?
Average Sale Time
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 102 Days | 58 Days | -42.8% |
Summary: Homes in Granite Falls had an average of 58 days on market in Mar 2024, down by 42.8% compared to last month.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Granite Falls are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 3 homes were sold in Granite Falls; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
