Is Hutchinson, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Hutchinson has remained a Seller's Market.
Key Takeaway
Hutchinson is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Hutchinson, MN
How much do homes in Hutchinson, MN cost?
Median Sold Price
$269,900
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Hutchinson have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Hutchinson was $269,900 in March 2024, up 1.1% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $115K | - | N/A |
| 2 Bedrooms | $225.5K | $230K | +2.0% |
| 3 Bedrooms | $249.9K | $260K | +4.0% |
| 4 Bedrooms | $288K | $298K | +3.5% |
| 5+ Bedrooms | $362.5K | $370.5K | +2.2% |
Summary: Hutchinson housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 3.5%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Hutchinson Township | $260K | $269.6K | +3.7% |
| Hutchinson | $266.8K | $269.9K | +1.1% |
Housing Supply in Hutchinson, MN
How many homes are available in Hutchinson, MN?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 41 | 53 | +29.3% |
Summary: The Hutchinson real estate market had 53 homes for sale in March 2024, a 29.3% 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 | 12 | 11 | -8.3% |
| 3 Bedrooms | 12 | 19 | +58.3% |
| 4 Bedrooms | 15 | 19 | +26.7% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Hutchinson 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 decreased by 8.3%, 3 bedroom homes increased by 58.3%, 4 bedroom homes increased by 26.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Hutchinson, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Hutchinson in March 2024, down by 9.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 30% were sold at asking, and 10% were sold over asking.
Days on Market for Hutchinson, MN
How long does it take to sell a home in Hutchinson, MN?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 70 Days | 28 Days | -59.3% |
Summary: Homes in Hutchinson had an average of 28 days on market in Mar 2024, down by 59.3% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Hutchinson are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 10 homes were sold in Hutchinson; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
