Is Hamel, MN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Hamel is a buyer's market

Buyer's
Market

Difference Since January 2023

At the same time last year, Hamel was a Neutral Market.

Key Takeaway

Hamel is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Hamel, MN

How much do homes in Hamel, MN cost?

Median Sold Price

$668,990

$222/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

+$18,339(+2.8%)

Key Takeaway

Homes in Hamel have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in Hamel was $668,990 in January 2024, up 2.8% from last year, and the median price per square foot was $222.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 --
N/A
2 $444.9K$390K
-12.4%
3 $500K$469K
-6.2%
4 $679.8K$699.9K
+3.0%
5+ $882.5K$867.5K
-1.7%

Summary: Hamel housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.4%, 3 bedroom homes decreased by 6.2%, 4 bedroom homes increased by 3%, and 5+ bedroom homes decreased by 1.7%.

Median Sold Price Compared To Nearby Cities

Medina
+3.2%
Hamel
+2.8%
Corcoran
+0.7%
Maple Grove
-2.2%

Housing Supply in Hamel, MN

How many homes are available in Hamel, MN?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
97132+36.1%

Summary: The Hamel real estate market had 132 homes for sale in January 2024, a 36.1% increase compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 00
0.0%
2 1217
+41.7%
3 4359
+37.2%
4 1930
+57.9%
5+ 2326
+13.0%

Summary: The Hamel housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 41.7%, 3 bedroom homes increased by 37.2%, 4 bedroom homes increased by 57.9%, and 5+ bedroom homes increased by 13%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
1218+50.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hamel, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in Hamel in January 2024, up by 50.0% month-over-month. Of the 18 sold homes, 56% were sold under asking, 28% were sold at asking, and 17% were sold over asking.

Days on Market for Hamel, MN

How long does it take to sell a home in Hamel, MN?

Average Sale Time

Jan 2023Jan 2024CHANGE
11 Days27 Days+131.2%

Summary: Homes in Hamel had an average of 27 days on market in Jan 2024, up by 131.2% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Hamel are selling fast, if you're buying plan to act quickly.

Summary: During January 2024, 18 homes were sold in Hamel; 56% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 29 Days Ago

Newest Listings in Hamel, MN

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