Is Litchfield, MN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Litchfield has remained a Seller's Market.
Key Takeaway
Litchfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Litchfield, MN
How much do homes in Litchfield, MN cost?
Median Sold Price
$238,750
$135/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Litchfield have sold for 17.9% more than they did a year ago.
Summary: The median home sold price in Litchfield was $238,750 in April 2024, up 17.9% from last year, and the median price per square foot was $135.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $95K | $221.3K | +132.9% |
| 2 Bedrooms | $160K | $190K | +18.8% |
| 3 Bedrooms | $189.9K | $203K | +6.9% |
| 4 Bedrooms | $230K | $292.5K | +27.2% |
| 5+ Bedrooms | $382.5K | $396.5K | +3.7% |
Summary: Litchfield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 132.9%, 2 bedroom homes increased by 18.8%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 27.2%, and 5+ bedroom homes increased by 3.7%.
Median Sold Price Compared To Nearby Cities
| Litchfield | $202.5K | $238.7K | +17.9% |
| Litchfield Township | $213K | $238.7K | +12.1% |
Housing Supply in Litchfield, MN
How many homes are available in Litchfield, MN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 27 | 24 | -11.1% |
Summary: The Litchfield real estate market had 24 homes for sale in April 2024, a 11.1% decrease compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 8 | 6 | -25.0% |
| 4 Bedrooms | 8 | 7 | -12.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Litchfield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 9 | 7 | -22.2% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Litchfield, you may be able to get a good deal. 42.9% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in Litchfield in April 2024, down by 22.2% month-over-month. Of the 7 sold homes, 43% were sold under asking, 29% were sold at asking, and 29% were sold over asking.
Days on Market for Litchfield, MN
How long does it take to sell a home in Litchfield, MN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 52 Days | 54 Days | +3.4% |
Summary: Homes in Litchfield had an average of 54 days on market in Apr 2024, up by 3.4% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Litchfield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 7 homes were sold in Litchfield; 71% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.
