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 September 2023

At the same time last year, Hamel was a Seller's 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

$667,057

$236/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

-$3,017(-0.5%)

Key Takeaway

The sold price of homes in Hamel has remained the same since last year.

Summary: The median home sold price in Hamel was $667,057 in September 2024, down 0.5% from last year, and the median price per square foot was $236.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $414.9K$342.4K
-17.5%
3 $464.5K$482.4K
+3.9%
4 $699.9K$694.8K
-0.7%
5+ $855K$858K
0.4%

Summary: Hamel housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.5%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 0.7%, and 5+ bedroom homes increased by 0.4%.

Median Sold Price Compared To Nearby Cities

Maple Grove
+3.2%
Loretto
+2.4%
Medina
+0.9%
Hamel
-0.5%
Corcoran
-0.5%

Housing Supply in Hamel, MN

How many homes are available in Hamel, MN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
135147+8.9%

Summary: The Hamel real estate market had 147 homes for sale in September 2024, a 8.9% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1112
+9.1%
3 6064
+6.7%
4 3742
+13.5%
5+ 2729
+7.4%

Summary: The Hamel housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 9.1%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 7.4%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
3212-62.5%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Hamel, expect to pay close to the asking price. 58.3% of homes here sold near the asking price last month.

Summary: A total of 12 homes were sold or pending in Hamel in September 2024, down by 62.5% month-over-month. Of the 12 sold homes, 25% were sold under asking, 58% 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

Sep 2023Sep 2024CHANGE
38 Days6 Days-82.1%

Summary: Homes in Hamel had an average of 6 days on market in Sep 2024, down by 82.1% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

1 Home Was 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 September 2024, 12 homes were sold in Hamel; 92% of homes were sold within 30 days, 8% 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 30 Days Ago

Newest Listings in Hamel, MN

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